Globalstar, Inc. (NYSE:GSAT) Shares Sold by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC cut its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,128,960 shares of the company’s stock after selling 13,192 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Globalstar were worth $2,190,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC acquired a new stake in Globalstar in the 3rd quarter valued at about $25,000. Jump Financial LLC acquired a new stake in Globalstar in the 3rd quarter valued at about $39,000. Evergreen Capital Management LLC acquired a new stake in Globalstar in the 3rd quarter valued at about $53,000. EP Wealth Advisors LLC lifted its holdings in Globalstar by 141.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock valued at $53,000 after purchasing an additional 23,748 shares in the last quarter. Finally, Pure Financial Advisors LLC purchased a new position in Globalstar in the 4th quarter valued at about $97,000. 18.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Globalstar

In other news, Director James F. Lynch acquired 660,000 shares of the stock in a transaction on Monday, March 11th. The stock was bought at an average price of $1.42 per share, with a total value of $937,200.00. Following the completion of the transaction, the director now directly owns 11,020,720 shares of the company’s stock, valued at $15,649,422.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 1,980,000 shares of company stock worth $2,765,400 in the last three months. Company insiders own 62.00% of the company’s stock.

Globalstar Trading Up 3.2 %

Shares of GSAT stock traded up $0.04 during trading hours on Tuesday, hitting $1.30. 1,071,213 shares of the company were exchanged, compared to its average volume of 4,242,867. The firm has a market cap 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 has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average of $1.35 and a 200 day moving average of $1.51.

Globalstar (NYSE:GSAT) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $52.41 million for the quarter, compared to analysts’ expectations of $53.06 million. Globalstar had a negative return on equity of 6.43% and a negative net margin of 14.61%. Analysts expect that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Globalstar 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.