Ashford Capital Management Inc. Sells 70,050 Shares of Globalstar, Inc. (NYSE:GSAT)

Ashford Capital Management Inc. reduced its holdings in Globalstar, Inc. (NYSE:GSAT) by 0.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,321,740 shares of the company’s stock after selling 70,050 shares during the quarter. Ashford Capital Management Inc.’s holdings in Globalstar were worth $9,079,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Globalstar in the 3rd quarter valued at about $56,000. Sender Co & Partners Inc. acquired a new position in Globalstar during the third quarter valued at approximately $106,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Globalstar by 1,000.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after purchasing an additional 117,864 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Globalstar by 26.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock worth $407,000 after purchasing an additional 68,599 shares during the last quarter. Finally, XTX Topco Ltd increased its position in shares of Globalstar by 3,472.7% during the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after purchasing an additional 949,025 shares during the last quarter. 18.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director William A. Hasler sold 90,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total value of $173,700.00. Following the transaction, the director now directly owns 848,668 shares of the company’s stock, valued at $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 61.00% of the company’s stock.

Globalstar Price Performance

Shares of GSAT opened at $2.11 on Tuesday. Globalstar, Inc. has a one year low of $1.00 and a one year high of $2.33. The company has a market cap of $3.99 billion, a P/E ratio of -70.33 and a beta of 1.10. The company has a 50-day moving average price of $1.88. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91.

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.