Wellington Management Group LLP Has $8.40 Million Stock Holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Wellington Management Group LLP lowered its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 7.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,365,238 shares of the communications equipment provider’s stock after selling 104,800 shares during the quarter. Wellington Management Group LLP owned about 2.39% of Gilat Satellite Networks worth $8,396,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Inspire Investing LLC bought a new position in Gilat Satellite Networks during the 4th quarter worth $864,000. Virtu Financial LLC bought a new position in shares of Gilat Satellite Networks in the third quarter worth $61,000. BNP Paribas Financial Markets acquired a new position in Gilat Satellite Networks in the third quarter valued at about $27,000. Van ECK Associates Corp grew its stake in Gilat Satellite Networks by 279.0% during the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock worth $839,000 after buying an additional 100,396 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in Gilat Satellite Networks by 4.6% in the 3rd 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.

Analysts Set New Price Targets

Several analysts recently issued reports on GILT shares. StockNews.com lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a research note on Wednesday, February 26th.

Gilat Satellite Networks Price Performance

GILT stock opened at $5.88 on Friday. The company has a 50 day simple moving average of $6.82 and a 200 day simple moving average of $6.13. The stock has a market cap of $335.26 million, a price-to-earnings ratio of 13.36 and a beta of 0.49. Gilat Satellite Networks Ltd. has a 1 year low of $4.04 and a 1 year high of $8.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14.

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

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.