Two Sigma Investments LP Reduces Stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Two Sigma Investments LP decreased its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,119 shares of the communications equipment provider’s stock after selling 65,035 shares during the period. Two Sigma Investments LP owned 0.25% of Gilat Satellite Networks worth $886,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GILT. LBP AM SA boosted its holdings in Gilat Satellite Networks by 83.9% in the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock valued at $2,136,000 after acquiring an additional 158,468 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Gilat Satellite Networks by 279.0% during the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock valued at $839,000 after purchasing an additional 100,396 shares during the last quarter. Foundry Partners LLC grew its holdings in shares of Gilat Satellite Networks by 9.0% during the fourth quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider’s stock valued at $5,593,000 after purchasing an additional 75,260 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Gilat Satellite Networks during the fourth quarter worth approximately $421,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Gilat Satellite Networks by 43.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,597 shares of the communications equipment provider’s stock worth $1,329,000 after buying an additional 65,374 shares during the period. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT opened at $5.98 on Friday. The stock has a fifty day moving average of $6.09 and a 200-day moving average of $6.41. The company has a market capitalization of $340.96 million, a PE ratio of 13.59 and a beta of 0.32. Gilat Satellite Networks Ltd. has a one year low of $4.04 and a one year high of $8.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52.

Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. The business had revenue of $92.04 million during the quarter, compared to analysts’ expectations of $100.67 million. As a group, equities analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Analysts Set New Price Targets

GILT has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, May 20th. Wall Street Zen lowered Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, May 28th.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.