Curbstone Financial Management Corp Increases Stock Position in Globalstar, Inc. (NYSEARCA:GSAT)

Curbstone Financial Management Corp grew its position in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 464,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Curbstone Financial Management Corp’s holdings in Globalstar were worth $960,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GSAT. Janney Montgomery Scott LLC lifted its holdings in Globalstar by 36.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the company’s stock worth $63,000 after buying an additional 8,000 shares during the period. Flagship Harbor Advisors LLC lifted its stake in Globalstar by 15.3% in the fourth quarter. Flagship Harbor Advisors LLC now owns 71,741 shares of the company’s stock worth $149,000 after acquiring an additional 9,506 shares during the period. PFG Investments LLC bought a new stake in Globalstar in the fourth quarter valued at $25,000. IRON Financial LLC purchased a new position in Globalstar during the 4th quarter valued at $29,000. Finally, Inspire Investing LLC raised its holdings in Globalstar by 4.7% in the 3rd quarter. Inspire Investing LLC now owns 333,479 shares of the company’s stock worth $414,000 after purchasing an additional 14,862 shares in the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Globalstar Stock Down 8.1 %

Shares of GSAT stock opened at $1.82 on Tuesday. The business has a fifty day moving average price of $1.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The stock has a market capitalization of $3.45 billion, a PE ratio of -60.67 and a beta of 1.07. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.74.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GSAT shares. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum lifted their price objective on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Insider Buying and Selling

In other news, Director James Monroe III purchased 530,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $1.90 per share, for a total transaction of $1,007,000.00. Following the purchase, the director now directly owns 6,834,090 shares in the company, valued at approximately $12,984,771. This trade represents a 8.41 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William A. Hasler sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total transaction of $173,700.00. Following the sale, the director now owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 3,030,000 shares of company stock worth $5,987,000 and sold 3,680,851 shares worth $8,136,154. 60.76% of the stock is owned by company insiders.

About Globalstar

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.