Globalstar, Inc. (NYSE:GSAT) Director Acquires $965,000.00 in Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 500,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average cost of $1.93 per share, with a total value of $965,000.00. Following the completion of the purchase, the director now directly owns 10,334,090 shares in the company, valued at approximately $19,944,793.70. This represents a 5.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, December 20th, James Monroe III purchased 500,000 shares of Globalstar stock. The shares were purchased at an average cost of $1.97 per share, with a total value of $985,000.00.
• On Wednesday, December 18th, James Monroe III purchased 500,000 shares of Globalstar stock. The shares were purchased at an average cost of $2.00 per share, with a total value of $1,000,000.00.
• On Monday, December 16th, James Monroe III bought 500,000 shares of Globalstar stock. The stock was bought at an average price of $1.96 per share, with a total value of $980,000.00.
• On Friday, December 13th, James Monroe III bought 530,000 shares of Globalstar stock. The stock was bought at an average price of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Price Performance

GSAT traded up $0.07 on Thursday, hitting $2.04. The company had a trading volume of 3,581,282 shares, compared to its average volume of 8,017,312. The stock’s fifty day simple moving average is $1.97. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The company has a market capitalization of $3.85 billion, a PE ratio of -67.83 and a beta of 1.10.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. XTX Topco Ltd lifted its holdings 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 buying an additional 949,025 shares during the last quarter. FMR LLC lifted its holdings in shares of Globalstar by 32.7% during the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after buying an additional 1,102,776 shares during the last quarter. State Street Corp lifted its holdings in shares of Globalstar by 3.4% during the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after buying an additional 580,305 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Globalstar by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after buying an additional 196,644 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 shares during the period. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Company 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.