Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases Shares of 13,757 Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,757 shares of the communications equipment provider’s stock, valued at approximately $85,000.

Other large investors have also recently bought and sold shares of the company. LBP AM SA increased its position in shares of Gilat Satellite Networks by 83.9% during the 4th quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock worth $2,136,000 after purchasing an additional 158,468 shares during the last quarter. Inspire Investing LLC bought a new stake in Gilat Satellite Networks in the 4th quarter valued at about $864,000. Van ECK Associates Corp grew its holdings in shares of Gilat Satellite Networks by 279.0% during the 4th quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after purchasing an additional 100,396 shares in the last quarter. Clearline Capital LP increased its stake in Gilat Satellite Networks by 510.5% in the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock valued at $524,000 after acquiring an additional 83,127 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Gilat Satellite Networks by 4.6% in the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock valued at $335,000 after acquiring an additional 2,812 shares during the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

Wall Street Analysts Forecast Growth

GILT has been the topic of a number of recent research reports. StockNews.com cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th.

Gilat Satellite Networks Price Performance

GILT stock opened at $6.62 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $7.07 and its 200 day simple moving average is $6.02. Gilat Satellite Networks Ltd. has a 12-month low of $4.04 and a 12-month high of $8.05. The firm has a market cap of $377.45 million, a price-to-earnings ratio of 15.05 and a beta of 0.62.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. On average, analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

About Gilat Satellite Networks

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.