James Monroe III Buys 530,000 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III bought 530,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $1.90 per share, for a total transaction of $1,007,000.00. Following the transaction, the director now directly owns 6,834,090 shares of the company’s stock, valued at $12,984,771. This trade represents a 8.41 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Globalstar Stock Down 2.5 %

Shares of GSAT opened at $1.95 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The business’s 50-day simple moving average is $1.92. The company has a market capitalization of $3.69 billion, a PE ratio of -65.00 and a beta of 1.10. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.74.

Hedge Funds Weigh In On Globalstar

Hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Globalstar in the 3rd quarter valued at $56,000. BNP Paribas Financial Markets boosted its stake in shares of Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 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. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Globalstar by 1,000.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock worth $161,000 after purchasing an additional 117,864 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Globalstar by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after purchasing an additional 196,644 shares in the last quarter. 18.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

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.