Penserra Capital Management LLC Raises Stock Holdings in Gilat Satellite Networks Ltd. $GILT

Penserra Capital Management LLC lifted its holdings in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 831.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,193,094 shares of the communications equipment provider’s stock after acquiring an additional 1,064,959 shares during the period. Penserra Capital Management LLC’s holdings in Gilat Satellite Networks were worth $15,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GILT. Mutual Advisors LLC acquired a new stake in Gilat Satellite Networks during the 3rd quarter worth $149,000. New York State Common Retirement Fund acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth about $153,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth about $64,000. LBP AM SA grew its holdings in shares of Gilat Satellite Networks by 29.0% during the third quarter. LBP AM SA now owns 730,461 shares of the communications equipment provider’s stock worth $9,511,000 after buying an additional 164,386 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in Gilat Satellite Networks in the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GILT shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research note on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, November 25th. Freedom Capital downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Wall Street Zen cut shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.00.

Gilat Satellite Networks Price Performance

Gilat Satellite Networks stock opened at $18.70 on Thursday. The company has a market cap of $1.07 billion, a P/E ratio of 45.61 and a beta of 0.82. Gilat Satellite Networks Ltd. has a one year low of $5.30 and a one year high of $20.38. The business has a fifty day moving average of $14.71 and a two-hundred day moving average of $12.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.45 and a current ratio of 1.72.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The business had revenue of $117.69 million during the quarter, compared to the consensus estimate of $112.19 million. As a group, analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Gilat Satellite Networks Company Profile

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.