Globalstar, Inc. (NYSE:GSAT) Director James Monroe III Purchases 530,000 Shares

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 530,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $1.90 per share, with a total value of $1,007,000.00. Following the completion of the purchase, the director now owns 6,834,090 shares of the company’s stock, valued at $12,984,771. The trade was a 8.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Globalstar Stock Down 2.5 %

GSAT traded down $0.05 during trading hours on Friday, hitting $1.95. 21,525,106 shares of the company’s stock were exchanged, compared to its average volume of 7,878,825. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74. The firm has a 50-day moving average price of $1.92. The company has a market capitalization of $3.69 billion, a PE ratio of -65.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new position in Globalstar during the third quarter worth $56,000. BNP Paribas Financial Markets raised its position in Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock worth $407,000 after acquiring an additional 68,599 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in Globalstar during the third quarter worth $106,000. Point72 Asia Singapore Pte. Ltd. raised its position in Globalstar by 1,000.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock worth $161,000 after acquiring an additional 117,864 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Globalstar by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after purchasing an additional 196,644 shares during the period. 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.