Thompson Davis & CO. Inc. Buys New Position in Gilat Satellite Networks Ltd. $GILT

Thompson Davis & CO. Inc. purchased a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 37,300 shares of the communications equipment provider’s stock, valued at approximately $486,000. Thompson Davis & CO. Inc. owned about 0.07% of Gilat Satellite Networks at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GILT. First Wilshire Securities Management Inc. lifted its stake in shares of Gilat Satellite Networks by 1.0% during the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock valued at $10,408,000 after buying an additional 14,782 shares during the period. Penserra Capital Management LLC raised its holdings in Gilat Satellite Networks by 831.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after acquiring an additional 1,064,959 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Gilat Satellite Networks by 62.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock worth $14,206,000 after purchasing an additional 419,843 shares during the period. CSM Advisors LLC acquired a new stake in shares of Gilat Satellite Networks during the second quarter worth $6,214,000. Finally, LBP AM SA grew its position in shares of Gilat Satellite Networks by 29.0% in the third quarter. LBP AM SA now owns 730,461 shares of the communications equipment provider’s stock valued at $9,511,000 after purchasing an additional 164,386 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GILT shares. Wall Street Zen downgraded Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Freedom Capital lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.00.

Gilat Satellite Networks Stock Down 4.9%

GILT opened at $18.46 on Friday. Gilat Satellite Networks Ltd. has a 1 year low of $5.30 and a 1 year high of $20.38. The firm has a 50 day moving average price of $15.00 and a 200 day moving average price of $12.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.45 and a current ratio of 1.72. The company has a market cap of $1.06 billion, a PE ratio of 45.03 and a beta of 0.82.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The firm had revenue of $117.69 million for the quarter, compared to analysts’ expectations of $112.19 million. Sell-side analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Gilat Satellite Networks Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.