Heron Bay Capital Management Makes New $88,000 Investment in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Heron Bay Capital Management purchased a new stake in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,386 shares of the communications equipment provider’s stock, valued at approximately $88,000.

A number of other hedge funds also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Gilat Satellite Networks during the fourth quarter valued at approximately $85,000. LBP AM SA raised its holdings in shares of Gilat Satellite Networks by 83.9% during the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock valued at $2,136,000 after buying an additional 158,468 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Gilat Satellite Networks during the fourth quarter valued at approximately $226,000. Van ECK Associates Corp raised its holdings in shares of 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 valued at $839,000 after buying an additional 100,396 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Gilat Satellite Networks during the fourth quarter valued at approximately $864,000. Institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT opened at $6.60 on Friday. Gilat Satellite Networks Ltd. has a 12 month low of $4.04 and a 12 month high of $8.05. The stock has a market cap of $376.31 million, a price-to-earnings ratio of 15.00 and a beta of 0.62. The stock’s 50 day moving average price is $7.06 and its 200 day moving average price is $5.97. 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 announced its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, topping 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%. Equities research analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GILT has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Wednesday, February 26th. StockNews.com cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 7th.

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.