Van ECK Associates Corp Buys 100,396 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Van ECK Associates Corp grew its stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 279.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 136,380 shares of the communications equipment provider’s stock after acquiring an additional 100,396 shares during the period. Van ECK Associates Corp’s holdings in Gilat Satellite Networks were worth $839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Gilat Satellite Networks during the third quarter valued at approximately $27,000. Virtu Financial LLC purchased a new position in Gilat Satellite Networks during the third quarter valued at approximately $61,000. GSA Capital Partners LLP purchased a new position in Gilat Satellite Networks during the third quarter valued at approximately $140,000. PDT Partners LLC increased its holdings in Gilat Satellite Networks by 51.1% during the third quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 9,287 shares during the period. Finally, Tidal Investments LLC increased its holdings in Gilat Satellite Networks by 4.6% during the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock valued at $335,000 after buying an additional 2,812 shares during the period. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

NASDAQ GILT opened at $7.56 on Friday. The firm’s fifty day simple moving average is $6.65 and its two-hundred day simple moving average is $5.59. The company has a current ratio of 2.52, a quick ratio of 2.14 and a debt-to-equity ratio of 0.01. 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 capitalization of $431.07 million, a P/E ratio of 17.18 and a beta of 0.60.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a report on Thursday, February 13th. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

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.