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

CSM Advisors LLC decreased its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 24.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 665,225 shares of the communications equipment provider’s stock after selling 211,510 shares during the quarter. CSM Advisors LLC owned approximately 1.16% of Gilat Satellite Networks worth $8,663,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Gilat Satellite Networks Trading Down 2.4%

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

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, topping 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 company had revenue of $136.96 million for the quarter, compared to the consensus estimate of $133.56 million. Equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

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.