First Wilshire Securities Management Inc. Sells 13,224 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

First Wilshire Securities Management Inc. trimmed its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,470,887 shares of the communications equipment provider’s stock after selling 13,224 shares during the quarter. Gilat Satellite Networks makes up 2.4% of First Wilshire Securities Management Inc.’s investment portfolio, making the stock its 13th largest position. First Wilshire Securities Management Inc. owned approximately 2.58% of Gilat Satellite Networks worth $9,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of GILT. Inspire Investing LLC purchased a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $864,000. Virtu Financial LLC purchased a new position in Gilat Satellite Networks during the 3rd quarter valued at about $61,000. BNP Paribas Financial Markets purchased a new position in Gilat Satellite Networks during the 3rd quarter valued at about $27,000. Van ECK Associates Corp raised its position in Gilat Satellite Networks by 279.0% during the 4th 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. Finally, Tidal Investments LLC lifted its holdings in Gilat Satellite Networks by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock worth $335,000 after buying an additional 2,812 shares during the period. 35.72% of the stock is owned by hedge funds and other institutional investors.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock opened at $6.28 on Wednesday. Gilat Satellite Networks Ltd. has a fifty-two week low of $4.04 and a fifty-two week high of $8.05. The stock’s 50 day simple moving average is $7.04 and its two-hundred day simple moving average is $6.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. The stock has a market cap of $358.07 million, a price-to-earnings ratio of 14.27 and a beta of 0.62.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. As a group, analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on GILT. Needham & Company LLC reissued a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

Gilat Satellite Networks Company Profile

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.