Wellington Management Group LLP Sells 356,928 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Wellington Management Group LLP reduced its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 19.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,470,038 shares of the communications equipment provider’s stock after selling 356,928 shares during the quarter. Wellington Management Group LLP’s holdings in Gilat Satellite Networks were worth $7,747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Gilat Satellite Networks during the 3rd quarter worth about $27,000. Wedbush Securities Inc. acquired a new position in Gilat Satellite Networks during the second quarter worth approximately $46,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Gilat Satellite Networks during the second quarter worth approximately $69,000. Clearline Capital LP bought a new stake in Gilat Satellite Networks in the second quarter valued at approximately $73,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Gilat Satellite Networks in the third quarter valued at approximately $140,000. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Trading Down 1.2 %

Shares of NASDAQ:GILT opened at $5.95 on Monday. Gilat Satellite Networks Ltd. has a 12-month low of $4.04 and a 12-month high of $6.66. The business has a 50 day moving average of $5.37 and a 200-day moving average of $4.94. The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01. The stock has a market cap of $339.25 million, a PE ratio of 20.52 and a beta of 0.59.

Wall Street Analyst Weigh In

GILT has been the topic of a number of recent analyst reports. William Blair began coverage on Gilat Satellite Networks in a report on Thursday, September 26th. They set an “outperform” rating on the stock. StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Friday, November 15th.

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.