Globalstar, Inc. (NYSE:GSAT) Director Buys $1,007,000.00 in Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 530,000 shares of Globalstar stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $1.90 per share, for a total transaction of $1,007,000.00. Following the completion of the purchase, the director now owns 6,834,090 shares in the company, valued at $12,984,771. This represents a 8.41 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Globalstar Price Performance

Shares of NYSE:GSAT traded down $0.05 during mid-day trading on Friday, hitting $1.95. The company had a trading volume of 21,525,106 shares, compared to its average volume of 7,878,825. The company has a fifty day moving average of $1.92. The firm has a market capitalization of $3.69 billion, a P/E ratio of -65.00 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. Globalstar, Inc. has a one year low of $1.00 and a one year high of $2.74.

Analyst Ratings Changes

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

Institutional Trading of Globalstar

Several hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in 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 purchasing an additional 340,476 shares during the period. Geode Capital Management LLC grew its position in Globalstar by 2.3% in 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 during the period. Sender Co & Partners Inc. acquired a new stake in Globalstar in the 3rd quarter valued at $106,000. XTX Topco Ltd grew its position in 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 period. Finally, State Street Corp boosted its holdings in Globalstar by 3.4% during the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after acquiring an additional 580,305 shares during the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

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.