185,395 Shares in Globalstar, Inc. (NYSE:GSAT) Bought by Andrew Hill Investment Advisors Inc.

Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Globalstar, Inc. (NYSE:GSAT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 185,395 shares of the company’s stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Globalstar by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock valued at $90,642,000 after purchasing an additional 418,008 shares during the last quarter. Legion Partners Asset Management LLC lifted its position in Globalstar by 272.5% during the 3rd quarter. Legion Partners Asset Management LLC now owns 6,835,000 shares of the company’s stock worth $8,954,000 after acquiring an additional 5,000,000 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Globalstar by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,432,979 shares of the company’s stock valued at $7,117,000 after buying an additional 157,706 shares during the period. FMR LLC raised its holdings in Globalstar by 0.3% in the 3rd quarter. FMR LLC now owns 3,375,719 shares of the company’s stock worth $4,422,000 after purchasing an additional 10,491 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Globalstar by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,402,586 shares of the company’s stock worth $3,147,000 after purchasing an additional 65,866 shares during the period. 18.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Globalstar Stock Down 1.6 %

NYSE:GSAT traded down $0.02 during midday trading on Friday, reaching $1.23. The company had a trading volume of 1,337,393 shares, compared to its average volume of 4,283,826. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -127.00 and a beta of 0.84. The stock’s fifty day simple moving average is $1.36 and its 200-day simple moving average is $1.53. Globalstar, Inc. has a 12-month low of $0.85 and a 12-month high of $2.13. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 0.86.

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

Insider Activity at Globalstar

In other Globalstar news, Director James F. Lynch acquired 660,000 shares of the stock in a transaction on Thursday, March 7th. The shares were bought at an average price of $1.31 per share, with a total value of $864,600.00. Following the acquisition, the director now 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 through this hyperlink. Insiders have purchased 1,980,000 shares of company stock worth $2,765,400 in the last quarter. Company insiders own 62.00% of the company’s stock.

Globalstar Company Profile

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.