Gilat Satellite Networks Ltd. (NASDAQ:GILT) Shares Bought by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd grew its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 67.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 921,528 shares of the communications equipment provider’s stock after purchasing an additional 370,507 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Gilat Satellite Networks were worth $7,747,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Menora Mivtachim Holdings LTD. increased its position in shares of Gilat Satellite Networks by 0.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 214,974 shares of the communications equipment provider’s stock valued at $1,806,000 after buying an additional 1,892 shares in the last quarter. Jane Street Group LLC increased its position in shares of Gilat Satellite Networks by 18.5% in the fourth quarter. Jane Street Group LLC now owns 17,829 shares of the communications equipment provider’s stock valued at $163,000 after buying an additional 2,788 shares in the last quarter. Ramsey Quantitative Systems increased its position in shares of Gilat Satellite Networks by 4.9% in the fourth quarter. Ramsey Quantitative Systems now owns 65,157 shares of the communications equipment provider’s stock valued at $597,000 after buying an additional 3,051 shares in the last quarter. Sphera Funds Management LTD. increased its position in shares of Gilat Satellite Networks by 2.0% in the fourth quarter. Sphera Funds Management LTD. now owns 166,663 shares of the communications equipment provider’s stock valued at $5,705,000 after buying an additional 3,296 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Gilat Satellite Networks in the first quarter valued at $33,000. Institutional investors and hedge funds own 16.18% of the company’s stock.

GILT opened at $8.58 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02. The firm has a market cap of $459.39 million, a P/E ratio of 27.72 and a beta of 0.65. Gilat Satellite Networks Ltd. has a 52 week low of $7.94 and a 52 week high of $10.74.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported $0.06 EPS for the quarter. The business had revenue of $62.11 million for the quarter. Gilat Satellite Networks had a return on equity of 7.37% and a net margin of 7.25%.

A number of research analysts have recently weighed in on GILT shares. BidaskClub cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. ValuEngine cut Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th.

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Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions and services in Israel, Latin America, Asia, the Asia Pacific, North America, Africa, Europe, and CIS countries. It operates through three segments: Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects.

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Institutional Ownership by Quarter for Gilat Satellite Networks (NASDAQ:GILT)

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