Adi Sfadia Sells 48,978 Shares of Gilat Satellite Networks (NASDAQ:GILT) Stock

Gilat Satellite Networks Ltd. (NASDAQ:GILT) CEO Adi Sfadia sold 48,978 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $16.85, for a total transaction of $825,279.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Gilat Satellite Networks Price Performance

Shares of GILT traded up $0.07 on Thursday, reaching $17.07. 192,974 shares of the stock traded hands, compared to its average volume of 964,050. The firm has a market cap of $976.57 million, a price-to-earnings ratio of 51.73 and a beta of 0.82. The stock’s 50-day moving average price is $16.86 and its 200-day moving average price is $14.00. Gilat Satellite Networks Ltd. has a 12 month low of $5.30 and a 12 month high of $20.38.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%.The firm had revenue of $136.96 million for the quarter, compared to analysts’ expectations of $133.56 million. As a group, equities research analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd boosted its stake in Gilat Satellite Networks by 33.8% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock worth $71,476,000 after buying an additional 1,402,035 shares in the last quarter. First Wilshire Securities Management Inc. lifted its holdings in shares of Gilat Satellite Networks by 1.0% in the 2nd quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock worth $10,408,000 after acquiring an additional 14,782 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Gilat Satellite Networks by 12.4% in the 3rd quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock worth $15,605,000 after acquiring an additional 132,599 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Gilat Satellite Networks by 831.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after purchasing an additional 1,064,959 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after purchasing an additional 419,843 shares in the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GILT shares. Wall Street Zen lowered Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Freedom Capital upgraded Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Gilat Satellite Networks has a consensus rating of “Moderate Buy” and an average target price of $20.00.

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.