Gilat Satellite Networks (NASDAQ:GILT) Insider Doron Kerbel Sells 7,500 Shares of Stock

Gilat Satellite Networks Ltd. (NASDAQ:GILT) insider Doron Kerbel sold 7,500 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $18.03, for a total transaction of $135,225.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Gilat Satellite Networks Price Performance

GILT stock opened at $16.67 on Tuesday. 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 of $16.93 and a 200 day moving average of $14.19. The company has a market cap of $1.23 billion, a P/E ratio of 50.52 and a beta of 0.82.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%.The business had revenue of $136.96 million for the quarter, compared to analysts’ expectations of $133.56 million. On average, equities research analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on GILT shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Freedom Capital upgraded shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. Finally, Wall Street Zen lowered shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Gilat Satellite Networks by 118.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock worth $51,992,000 after acquiring an additional 2,250,000 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Gilat Satellite Networks by 831.1% during the third 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 in the last quarter. Defiance ETFs LLC purchased a new position in shares of Gilat Satellite Networks in the 4th quarter worth about $13,555,000. UBS Group AG raised its position in shares of Gilat Satellite Networks by 613.4% in the 3rd quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock worth $12,545,000 after purchasing an additional 828,489 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Gilat Satellite Networks by 995.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 907,794 shares of the communications equipment provider’s stock worth $11,755,000 after purchasing an additional 824,949 shares in the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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.