Renaissance Technologies LLC grew its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,894,554 shares of the communications equipment provider’s stock after acquiring an additional 25,800 shares during the period. Renaissance Technologies LLC owned 5.28% of Gilat Satellite Networks worth $26,601,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GILT. Menora Mivtachim Holdings LTD. purchased a new position in Gilat Satellite Networks during the first quarter valued at $1,879,000. Sphera Funds Management LTD. bought a new position in Gilat Satellite Networks during the first quarter valued at $985,000. Deutsche Bank AG lifted its position in Gilat Satellite Networks by 59.2% during the fourth quarter. Deutsche Bank AG now owns 20,918 shares of the communications equipment provider’s stock valued at $161,000 after purchasing an additional 7,776 shares during the last quarter. Finally, Ramsey Quantitative Systems lifted its position in Gilat Satellite Networks by 17.9% during the second quarter. Ramsey Quantitative Systems now owns 42,189 shares of the communications equipment provider’s stock valued at $388,000 after purchasing an additional 6,420 shares during the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.
Several research firms have commented on GILT. BidaskClub upgraded shares of Gilat Satellite Networks from a “hold” rating to a “buy” rating in a research report on Saturday, June 23rd. TheStreet upgraded shares of Gilat Satellite Networks from a “c+” rating to a “b-” rating in a report on Thursday, August 30th.
Gilat Satellite Networks (NASDAQ:GILT) last released its earnings results on Tuesday, August 7th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Gilat Satellite Networks had a net margin of 3.46% and a return on equity of 6.80%. The firm had revenue of $66.51 million during the quarter.
Gilat Satellite Networks Company Profile
Gilat Satellite Networks Ltd., together with its subsidiaries, provides broadband satellite communication (Satcom) network solutions and services worldwide. The company operates through Commercial, Mobility, and Services divisions. The company designs, manufactures, and provides network management and equipment for Satcom, as well as professional services to satellite operators and service providers.
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