Van ECK Associates Corp Acquires 100,396 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Van ECK Associates Corp lifted its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 279.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,380 shares of the communications equipment provider’s stock after acquiring an additional 100,396 shares during the period. Van ECK Associates Corp owned 0.24% of Gilat Satellite Networks worth $839,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GILT. BNP Paribas Financial Markets bought a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $27,000. Virtu Financial LLC bought a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $61,000. GSA Capital Partners LLP bought a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $140,000. PDT Partners LLC lifted its holdings in shares of Gilat Satellite Networks by 51.1% in the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock valued at $145,000 after acquiring an additional 9,287 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of 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 valued at $335,000 after acquiring an additional 2,812 shares during the last quarter. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Stock Down 1.7 %

Shares of NASDAQ GILT opened at $7.56 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14. The company has a market cap of $431.07 million, a P/E ratio of 17.18 and a beta of 0.60. Gilat Satellite Networks Ltd. has a 1 year low of $4.04 and a 1 year high of $8.05. The firm has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $5.59.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on GILT shares. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Thursday, February 13th.

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. 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.