Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III Purchases 209,546 Shares

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III bought 209,546 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were purchased at an average cost of $22.52 per share, with a total value of $4,718,975.92. Following the completion of the acquisition, the director now owns 790,097 shares in the company, valued at approximately $17,792,984.44. This represents a 36.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 20th, James Monroe III acquired 25,000 shares of Globalstar stock. The stock was purchased at an average cost of $21.83 per share, with a total value of $545,750.00.
• On Tuesday, March 18th, James Monroe III bought 25,000 shares of Globalstar stock. The shares were purchased at an average cost of $20.80 per share, for a total transaction of $520,000.00.

Globalstar Price Performance

NYSEARCA:GSAT opened at $21.28 on Friday. The stock has a 50 day moving average of $15.49 and a two-hundred day moving average of $7.10. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $41.10. The firm has a market cap of $40.31 billion, a P/E ratio of -709.33 and a beta of 1.07. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91.

Institutional Trading of Globalstar

Several large investors have recently made changes to their positions in GSAT. Wealth Enhancement Advisory Services LLC grew its stake in Globalstar by 1.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 251,887 shares of the company’s stock valued at $521,000 after acquiring an additional 4,545 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Globalstar in the 4th quarter worth approximately $33,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Globalstar by 48.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 22,830 shares of the company’s stock worth $47,000 after purchasing an additional 7,500 shares during the last quarter. Ashford Capital Management Inc. grew its position in shares of Globalstar by 68.9% in 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 valued at $3,250,000 after purchasing an additional 211,803 shares during the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Morgan Stanley upped their price target on Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. B. Riley increased their target price on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Craig Hallum cut their price target on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th.

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.