Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 41.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,359 shares of the communications equipment provider’s stock after selling 15,535 shares during the period. Van ECK Associates Corp’s holdings in Gilat Satellite Networks were worth $100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC increased its position in shares of Gilat Satellite Networks by 37.7% during the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock worth $102,000 after purchasing an additional 4,567 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Gilat Satellite Networks by 150.5% during the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 4,733 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Gilat Satellite Networks by 19.6% during the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock worth $184,000 after buying an additional 5,559 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of Gilat Satellite Networks during the fourth quarter worth about $48,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Gilat Satellite Networks during the second quarter worth about $69,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GILT. StockNews.com lowered Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 19th. Needham & Company LLC reissued a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Thursday, August 8th.

Gilat Satellite Networks Price Performance

Shares of GILT opened at $4.41 on Tuesday. Gilat Satellite Networks Ltd. has a twelve month low of $4.04 and a twelve month high of $6.80. The stock’s 50 day moving average is $4.54 and its two-hundred day moving average is $5.10. The firm has a market capitalization of $251.17 million, a PE ratio of 10.73 and a beta of 0.58. The company has a current ratio of 2.14, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported $0.10 earnings per share for the quarter. Gilat Satellite Networks had a return on equity of 8.23% and a net margin of 6.80%. The company had revenue of $76.63 million for the quarter.

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.