Clearline Capital LP Purchases 83,127 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Clearline Capital LP lifted its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 510.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,409 shares of the communications equipment provider’s stock after acquiring an additional 83,127 shares during the quarter. Clearline Capital LP owned approximately 0.17% of Gilat Satellite Networks worth $524,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in shares of Gilat Satellite Networks during the third quarter worth approximately $27,000. Wedbush Securities Inc. bought a new stake in shares of Gilat Satellite Networks during the 2nd quarter valued at $46,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Gilat Satellite Networks in the 2nd quarter valued at $69,000. GSA Capital Partners LLP acquired a new position in shares of Gilat Satellite Networks in the 3rd quarter valued at $140,000. Finally, PDT Partners LLC grew its stake in shares of 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 worth $145,000 after purchasing an additional 9,287 shares during the period. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Trading Up 1.3 %

NASDAQ:GILT opened at $5.48 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.84. The business’s 50-day simple moving average is $5.17 and its 200-day simple moving average is $4.89. Gilat Satellite Networks Ltd. has a fifty-two week low of $4.04 and a fifty-two week high of $6.80. The stock has a market capitalization of $312.47 million, a PE ratio of 18.90 and a beta of 0.59.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GILT shares. StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. Needham & Company LLC reissued a “buy” rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research note on Friday, November 15th. Finally, William Blair started coverage on shares of Gilat Satellite Networks in a research note on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Company 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.