Schonfeld Strategic Advisors LLC Makes New Investment in Gilat Satellite Networks Ltd. (NASDAQ:GILT)


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Schonfeld Strategic Advisors LLC bought a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,000 shares of the communications equipment provider’s stock, valued at approximately $109,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its position in Gilat Satellite Networks by 45.7% in the 3rd quarter. Morgan Stanley now owns 2,929,663 shares of the communications equipment provider’s stock valued at $15,966,000 after acquiring an additional 919,062 shares in the last quarter. Mint Tower Capital Management B.V. purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $41,000. State Street Corp boosted its stake in shares of Gilat Satellite Networks by 1.7% in the 3rd quarter. State Street Corp now owns 135,092 shares of the communications equipment provider’s stock valued at $736,000 after buying an additional 2,297 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $136,000. Finally, ARK Investment Management LLC purchased a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at about $862,000. Hedge funds and other institutional investors own 25.45% of the company’s stock.

GILT has been the subject of several recent analyst reports. BidaskClub cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Friday, December 18th. TheStreet cut Gilat Satellite Networks from a “c” rating to a “d” rating in a research note on Friday, November 13th.

Shares of GILT stock opened at $6.52 on Friday. The firm has a market capitalization of $361.81 million, a PE ratio of -93.14 and a beta of 0.65. Gilat Satellite Networks Ltd. has a 1-year low of $4.70 and a 1-year high of $10.76. The business’s fifty day moving average price is $6.02 and its 200 day moving average price is $5.71.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Tuesday, November 10th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $37.27 million for the quarter. Gilat Satellite Networks had a negative return on equity of 2.80% and a negative net margin of 1.74%.

The business also recently announced a — dividend, which will be paid on Wednesday, January 20th. Investors of record on Monday, January 11th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, January 8th. This represents a yield of 15.2%.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Latin America, the Asia Pacific, North America, Europe, the Middle East, and Africa. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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Institutional Ownership by Quarter for Gilat Satellite Networks (NASDAQ:GILT)

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