Globalstar, Inc. (NYSE:GSAT) Director James Monroe III Buys 500,000 Shares of Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III bought 500,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was bought at an average cost of $1.96 per share, with a total value of $980,000.00. Following the completion of the acquisition, the director now owns 7,834,090 shares of the company’s stock, valued at $15,354,816.40. This represents a 6.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, December 13th, James Monroe III purchased 530,000 shares of Globalstar stock. The stock was purchased at an average price of $1.90 per share, for a total transaction of $1,007,000.00.

Globalstar Stock Performance

Shares of NYSE:GSAT remained flat at $1.95 during midday trading on Monday. The stock had a trading volume of 13,586,712 shares, compared to its average volume of 7,908,471. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. 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 stock’s fifty day moving average price is $1.92. The stock has a market cap of $3.69 billion, a P/E ratio of -65.00 and a beta of 1.10.

Hedge Funds Weigh In On Globalstar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Globalstar in the third quarter valued at approximately $56,000. Sender Co & Partners Inc. purchased a new stake in Globalstar in the 3rd quarter valued at approximately $106,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Globalstar by 1,000.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after buying an additional 117,864 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Globalstar by 26.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after buying an additional 68,599 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Globalstar by 3,472.7% in 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 during the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Globalstar

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.