CSM Advisors LLC Cuts Stock Position in Gilat Satellite Networks Ltd. $GILT

CSM Advisors LLC lessened its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 24.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 665,225 shares of the communications equipment provider’s stock after selling 211,510 shares during the period. CSM Advisors LLC’s holdings in Gilat Satellite Networks were worth $8,663,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in Gilat Satellite Networks during the third quarter valued at $26,000. USA Financial Formulas purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter worth $39,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gilat Satellite Networks in the 3rd quarter worth about $64,000. McIlrath & Eck LLC increased its holdings in shares of Gilat Satellite Networks by 383.1% in the 3rd quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 4,586 shares during the last quarter. Finally, Assetmark Inc. purchased a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at about $76,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

Gilat Satellite Networks stock opened at $16.45 on Friday. Gilat Satellite Networks Ltd. has a 12-month low of $5.30 and a 12-month high of $20.38. The company has a current ratio of 1.84, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $16.74 and a 200-day moving average price of $13.85. The firm has a market capitalization of $941.10 million, a PE ratio of 49.85 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

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

Gilat Satellite Networks 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.