182,603 Shares in Globalstar, Inc. (NYSE:GSAT) Bought by Natixis

Natixis acquired a new stake in Globalstar, Inc. (NYSE:GSAT) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 182,603 shares of the company’s stock, valued at approximately $268,000.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Globalstar by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock valued at $139,175,000 after buying an additional 2,547,398 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Globalstar by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,646,468 shares of the company’s stock valued at $10,954,000 after acquiring an additional 213,489 shares during the last quarter. Wolf Hill Capital Management LP bought a new position in shares of Globalstar during the 4th quarter valued at approximately $4,324,000. New York State Common Retirement Fund increased its stake in shares of Globalstar by 10.1% during the 4th quarter. New York State Common Retirement Fund now owns 246,519 shares of the company’s stock worth $478,000 after purchasing an additional 22,624 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Globalstar by 39.6% in the 4th quarter. Victory Capital Management Inc. now owns 102,178 shares of the company’s stock worth $198,000 after purchasing an additional 28,986 shares during the period. 18.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Globalstar

In other Globalstar news, Director James Monroe III bought 4,510,855 shares of Globalstar stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $1.06 per share, for a total transaction of $4,781,506.30. Following the completion of the purchase, the director now directly owns 8,708,254 shares of the company’s stock, valued at $9,230,749.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 61.00% of the company’s stock.

Globalstar Price Performance

Shares of NYSE GSAT opened at $1.25 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.97. The stock has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $1.18. Globalstar, Inc. has a 1-year low of $1.01 and a 1-year high of $2.13. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -62.50 and a beta of 0.90.

Globalstar (NYSE:GSAT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $56.48 million for the quarter, compared to analysts’ expectations of $52.92 million. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. Analysts anticipate that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.