16,282 Shares in Gilat Satellite Networks Ltd. (NASDAQ:GILT) Bought by Clearline Capital LP

Clearline Capital LP acquired a new stake in Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,282 shares of the communications equipment provider’s stock, valued at approximately $73,000.

A number of other hedge funds have also modified their holdings of GILT. AWM Investment Company Inc. purchased a new position in shares of Gilat Satellite Networks during the first quarter worth $4,201,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Gilat Satellite Networks in the second quarter worth about $3,000,000. Foundry Partners LLC acquired a new stake in Gilat Satellite Networks during the first quarter worth about $3,521,000. Marshall Wace LLP grew its holdings in Gilat Satellite Networks by 410.2% during the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock worth $578,000 after acquiring an additional 103,924 shares during the period. Finally, Tidal Investments LLC acquired a new position in Gilat Satellite Networks in the first quarter valued at approximately $316,000. 35.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 target price on shares of Gilat Satellite Networks in a research note on Thursday, August 8th. StockNews.com downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 19th. Finally, William Blair assumed coverage on shares of Gilat Satellite Networks in a research note on Thursday. They set an “outperform” rating for the company.

Gilat Satellite Networks Stock Performance

GILT opened at $5.13 on Monday. The firm has a market capitalization of $292.50 million, a PE ratio of 12.51 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 Ltd. has a twelve month low of $4.04 and a twelve month high of $6.80. The firm’s 50-day moving average price is $4.60 and its 200 day moving average price is $4.99.

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

Gilat Satellite Networks Profile

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.