Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III Buys 25,000 Shares of Stock

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III bought 25,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $21.83 per share, for a total transaction of $545,750.00. Following the completion of the transaction, the director now directly owns 897,273 shares in the company, valued at approximately $19,587,469.59. This represents a 2.87 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, March 18th, James Monroe III acquired 25,000 shares of Globalstar stock. The stock was purchased at an average cost of $20.80 per share, with a total value of $520,000.00.
• On Thursday, December 26th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were bought at an average price of $2.10 per share, for a total transaction of $1,050,000.00.
• On Monday, December 23rd, James Monroe III purchased 500,000 shares of Globalstar stock. The shares were purchased at an average price of $1.93 per share, with a total value of $965,000.00.
• On Friday, December 20th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were purchased at an average price of $1.97 per share, for a total transaction of $985,000.00.

Globalstar Trading Down 0.4 %

Shares of GSAT opened at $21.62 on Friday. The business has a fifty day moving average price of $13.00. Globalstar, Inc. has a twelve month low of $15.00 and a twelve month high of $41.10. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The stock has a market cap of $40.95 billion, a price-to-earnings ratio of -720.67 and a beta of 1.07.

Hedge Funds Weigh In On Globalstar

Several hedge funds and other institutional investors have recently modified their holdings of GSAT. Wealth Enhancement Advisory Services LLC increased its position in shares of Globalstar by 1.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 251,887 shares of the company’s stock worth $521,000 after purchasing an additional 4,545 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Globalstar in the 4th quarter worth approximately $33,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Globalstar by 48.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,830 shares of the company’s stock valued at $47,000 after buying an additional 7,500 shares in the last quarter. Ashford Capital Management Inc. lifted its holdings in shares of Globalstar by 68.9% during the fourth quarter. Ashford Capital Management Inc. now owns 12,369,340 shares of the company’s stock valued at $25,605,000 after purchasing an additional 5,047,600 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Globalstar by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,569,896 shares of the company’s stock worth $3,250,000 after buying an additional 211,803 shares during the period. 18.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Craig Hallum decreased their price objective on Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. B. Riley raised their price target on Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley upped their price objective on shares of Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th.

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.