Traders Buy High Volume of Gilat Satellite Networks Put Options (NASDAQ:GILT)

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Gilat Satellite Networks Ltd. (NASDAQ:GILTGet Rating) was the target of some unusual options trading activity on Friday. Investors purchased 23,996 put options on the stock. This is an increase of approximately 4,868% compared to the average volume of 483 put options.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Gilat Satellite Networks by 74.8% during the first quarter. Royal Bank of Canada now owns 3,501 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 1,498 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Gilat Satellite Networks by 4.1% in the second quarter. Cetera Advisor Networks LLC now owns 39,665 shares of the communications equipment provider’s stock worth $237,000 after acquiring an additional 1,571 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Gilat Satellite Networks by 4.3% in the first quarter. Goldman Sachs Group Inc. now owns 48,999 shares of the communications equipment provider’s stock worth $432,000 after acquiring an additional 1,999 shares in the last quarter. ETF Managers Group LLC increased its position in shares of Gilat Satellite Networks by 4.6% in the fourth quarter. ETF Managers Group LLC now owns 63,229 shares of the communications equipment provider’s stock worth $454,000 after acquiring an additional 2,762 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Gilat Satellite Networks by 6.2% in the first quarter. Swiss National Bank now owns 73,949 shares of the communications equipment provider’s stock worth $657,000 after acquiring an additional 4,332 shares in the last quarter. Hedge funds and other institutional investors own 29.61% of the company’s stock.

Gilat Satellite Networks Stock Performance

Shares of GILT opened at $5.81 on Friday. The company has a market capitalization of $328.90 million, a price-to-earnings ratio of 581.58 and a beta of 0.42. The company’s 50 day simple moving average is $6.57 and its 200 day simple moving average is $7.01. Gilat Satellite Networks has a 1 year low of $5.62 and a 1 year high of $9.66.

About Gilat Satellite Networks

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Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel and internationally. It operates through Fixed Networks, Mobility Solutions, and Terrestrial Infrastructure Projects segments. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.

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