L Barbee Iv Ponder Sells 488 Shares of Globalstar, Inc. (NYSEARCA:GSAT) Stock

Globalstar, Inc. (NYSEARCA:GSAT) General Counsel L Barbee Iv Ponder sold 488 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.71, for a total value of $10,594.48. Following the transaction, the general counsel now directly owns 145,120 shares in the company, valued at approximately $3,150,555.20. This represents a 0.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Globalstar Price Performance

GSAT opened at $22.16 on Thursday. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $41.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The firm has a market cap of $41.98 billion, a PE ratio of -738.67 and a beta of 1.07. The firm has a 50 day simple moving average of $10.69.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Craig Hallum dropped their price target on Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. B. Riley increased their price target on Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley increased their price target on Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th.

Institutional Trading of Globalstar

Several large investors have recently added to or reduced their stakes in GSAT. Mercer Global Advisors Inc. ADV boosted its stake in Globalstar by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,912 shares of the company’s stock valued at $43,000 after purchasing an additional 900 shares in the last quarter. Stifel Financial Corp boosted its stake in Globalstar by 8.7% during the 4th quarter. Stifel Financial Corp now owns 36,087 shares of the company’s stock valued at $75,000 after purchasing an additional 2,894 shares in the last quarter. Mariner LLC boosted its stake in Globalstar by 30.9% during the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock valued at $29,000 after purchasing an additional 3,307 shares in the last quarter. Legal & General Group Plc boosted its stake in Globalstar by 0.8% during the 4th quarter. Legal & General Group Plc now owns 854,923 shares of the company’s stock valued at $1,770,000 after purchasing an additional 7,132 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Globalstar by 48.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 22,830 shares of the company’s stock valued at $47,000 after purchasing an additional 7,500 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

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.