BNP Paribas Financial Markets Buys New Shares in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

BNP Paribas Financial Markets purchased a new stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,038 shares of the communications equipment provider’s stock, valued at approximately $27,000.

Other large investors have also recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new position in shares of Gilat Satellite Networks during the 2nd quarter worth approximately $46,000. Clearline Capital LP acquired a new stake in shares of Gilat Satellite Networks in the 2nd quarter valued at $73,000. GSA Capital Partners LLP bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter worth about $140,000. Van ECK Associates Corp increased its position in shares of Gilat Satellite Networks by 60.9% during the 3rd quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider’s stock worth $175,000 after purchasing an additional 13,625 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new position in Gilat Satellite Networks during the 2nd quarter valued at about $243,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock opened at $5.86 on Friday. The company has a market cap of $334.12 million, a PE ratio of 20.21 and a beta of 0.59. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks Ltd. has a 1 year low of $4.04 and a 1 year high of $6.66. The company’s 50-day moving average is $5.46 and its two-hundred day moving average is $4.96.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GILT. StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Friday, November 15th. Finally, William Blair started coverage on shares of Gilat Satellite Networks in a research report on Thursday, September 26th. They set an “outperform” rating on the stock.

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.