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

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III bought 25,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was bought at an average price of $20.80 per share, with a total value of $520,000.00. Following the completion of the acquisition, the director now owns 847,273 shares in the company, valued at $17,623,278.40. This represents a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, March 20th, James Monroe III bought 25,000 shares of Globalstar stock. The stock was bought at an average price of $21.83 per share, with a total value of $545,750.00.
• On Thursday, December 26th, James Monroe III bought 500,000 shares of Globalstar stock. The stock was bought at an average price of $2.10 per share, with a total value of $1,050,000.00.
• On Monday, December 23rd, James Monroe III bought 500,000 shares of Globalstar stock. The stock was bought at an average price of $1.93 per share, with a total value of $965,000.00.
• On Friday, December 20th, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was acquired at an average cost of $1.97 per share, for a total transaction of $985,000.00.
• On Wednesday, December 18th, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was acquired at an average cost of $2.00 per share, for a total transaction of $1,000,000.00.

Globalstar Trading Down 0.4 %

GSAT opened at $21.62 on Friday. The business’s 50-day moving average price is $13.00. Globalstar, Inc. has a 12-month low of $15.00 and a 12-month high of $41.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The firm has a market cap of $40.95 billion, a price-to-earnings ratio of -720.67 and a beta of 1.07.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Globalstar

Several hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in Globalstar by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,912 shares of the company’s stock worth $43,000 after acquiring an additional 900 shares in the last quarter. Stifel Financial Corp lifted its stake in Globalstar by 8.7% during the 4th quarter. Stifel Financial Corp now owns 36,087 shares of the company’s stock worth $75,000 after acquiring an additional 2,894 shares in the last quarter. Mariner LLC raised its position in Globalstar by 30.9% in the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock valued at $29,000 after purchasing an additional 3,307 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Globalstar by 1.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 251,887 shares of the company’s stock valued at $521,000 after purchasing an additional 4,545 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Globalstar by 0.8% in the 4th quarter. Legal & General Group Plc now owns 854,923 shares of the company’s stock valued at $1,770,000 after purchasing an additional 7,132 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

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.