James Monroe III Acquires 500,000 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III bought 500,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $1.97 per share, for a total transaction of $985,000.00. Following the completion of the acquisition, the director now owns 9,834,090 shares of the company’s stock, valued at $19,373,157.30. This trade represents a 5.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

James Monroe III also recently made the following trade(s):

• On Wednesday, December 18th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were acquired at an average price of $2.00 per share, with a total value of $1,000,000.00.
• On Monday, December 16th, James Monroe III bought 500,000 shares of Globalstar stock. The stock was acquired at an average price of $1.96 per share, for a total transaction of $980,000.00.
• On Friday, December 13th, James Monroe III bought 530,000 shares of Globalstar stock. The shares were acquired at an average price of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Trading Down 0.8 %

Shares of Globalstar stock traded down $0.02 on Monday, reaching $1.94. 2,807,890 shares of the company were exchanged, compared to its average volume of 8,014,474. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -64.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The business has a fifty day simple moving average of $1.95.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its position in shares of Globalstar by 36.6% in the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after acquiring an additional 340,476 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Globalstar by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after purchasing an additional 382,288 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in shares of Globalstar in the 3rd quarter valued at $106,000. XTX Topco Ltd lifted its stake in shares of Globalstar by 3,472.7% in the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after purchasing an additional 949,025 shares during the last quarter. Finally, State Street Corp boosted its holdings in Globalstar by 3.4% in the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.