Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,820,466 shares of the communications equipment provider’s stock after selling 134,434 shares during the quarter. Wellington Management Group LLP owned about 3.22% of Gilat Satellite Networks worth $11,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its position in Gilat Satellite Networks by 150.5% during the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 4,733 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Gilat Satellite Networks in the 4th quarter worth about $48,000. Jump Financial LLC raised its holdings in shares of Gilat Satellite Networks by 37.7% in the 4th quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock worth $102,000 after purchasing an additional 4,567 shares during the period. Citigroup Inc. raised its holdings in shares of Gilat Satellite Networks by 10.8% in the 3rd quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock worth $234,000 after purchasing an additional 3,533 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at about $405,000. 35.72% of the stock is currently owned by hedge funds and other institutional investors.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT opened at $4.35 on Thursday. Gilat Satellite Networks Ltd. has a fifty-two week low of $4.31 and a fifty-two week high of $7.16. The business has a 50 day moving average price of $5.23 and a two-hundred day moving average price of $5.72. The company has a quick ratio of 1.66, a current ratio of 2.00 and a debt-to-equity ratio of 0.01. The firm has a market cap of $248.04 million, a PE ratio of 10.61 and a beta of 0.61.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported $0.11 earnings per share for the quarter. Gilat Satellite Networks had a return on equity of 8.02% and a net margin of 8.08%. The firm had revenue of $76.08 million during the quarter.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GILT. Needham & Company LLC reiterated a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a report on Wednesday, June 19th. StockNews.com downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 19th.

Gilat Satellite Networks 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.