Ashford Capital Management Inc. Has $9.08 Million Stock Position in Globalstar, Inc. (NYSE:GSAT)

Ashford Capital Management Inc. lessened its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 7,321,740 shares of the company’s stock after selling 70,050 shares during the period. Ashford Capital Management Inc.’s holdings in Globalstar were worth $9,079,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GSAT. FMR LLC increased its stake in Globalstar by 32.7% during the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after purchasing an additional 1,102,776 shares in the last quarter. XTX Topco Ltd increased its position in shares of Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after acquiring an additional 949,025 shares in the last quarter. State Street Corp raised its holdings in shares of Globalstar by 3.4% in the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after acquiring an additional 580,305 shares during the last quarter. Geode Capital Management LLC lifted its position in Globalstar by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after acquiring an additional 382,288 shares in the last quarter. Finally, Barclays PLC boosted its stake in Globalstar by 36.6% during the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after purchasing an additional 340,476 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Insider Transactions at Globalstar

In other news, Director William A. Hasler sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the transaction, the director now owns 848,668 shares in the company, valued at $1,637,929.24. The trade was a 9.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 61.00% of the company’s stock.

Globalstar Trading Down 4.5 %

NYSE GSAT opened at $2.11 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The company has a fifty day moving average of $1.88. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.33. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -70.33 and a beta of 1.10.

Globalstar 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.