Linden Thomas Advisory Services LLC Lowers Holdings in Globalstar, Inc. (NYSE:GSAT)

Linden Thomas Advisory Services LLC reduced its position in Globalstar, Inc. (NYSE:GSAT) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,960 shares of the company’s stock after selling 13,192 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Globalstar were worth $2,190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GSAT. FMR LLC lifted its position in Globalstar by 0.3% during the 3rd quarter. FMR LLC now owns 3,375,719 shares of the company’s stock worth $4,422,000 after acquiring an additional 10,491 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Globalstar by 6.5% during the 3rd quarter. New York State Common Retirement Fund now owns 223,895 shares of the company’s stock valued at $293,000 after buying an additional 13,740 shares during the last quarter. Swiss National Bank boosted its stake in shares of Globalstar by 1.1% during the 3rd quarter. Swiss National Bank now owns 1,594,154 shares of the company’s stock valued at $2,088,000 after buying an additional 17,000 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Globalstar during the 3rd quarter valued at approximately $25,000. Finally, HighMark Wealth Management LLC raised its position in shares of Globalstar by 16.2% during the 4th quarter. HighMark Wealth Management LLC now owns 143,500 shares of the company’s stock valued at $278,000 after acquiring an additional 20,000 shares in the last quarter. 18.89% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director James F. Lynch bought 660,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were purchased at an average cost of $1.31 per share, with a total value of $864,600.00. Following the completion of the transaction, the director now directly owns 9,700,720 shares of the company’s stock, valued at $12,707,943.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 1,980,000 shares of company stock valued at $2,765,400 over the last three months. Company insiders own 62.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Globalstar from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th.

Globalstar Stock Performance

Shares of GSAT stock traded up $0.04 on Tuesday, hitting $1.30. 1,071,213 shares of the stock traded hands, compared to its average volume of 4,242,867. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.81 and a quick ratio of 0.73. The company has a market capitalization of $2.45 billion, a PE ratio of -130.00 and a beta of 0.84. Globalstar, Inc. has a 1-year low of $0.85 and a 1-year high of $2.13. The company’s fifty day moving average is $1.35 and its 200 day moving average is $1.51.

Globalstar (NYSE:GSAT) last issued its earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter. Globalstar had a negative return on equity of 6.43% and a negative net margin of 14.61%. The company had revenue of $52.41 million during the quarter, compared to analyst estimates of $53.06 million. On average, equities research analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.

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.