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

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 500,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $1.96 per share, with a total value of $980,000.00. Following the purchase, the director now directly owns 7,834,090 shares of the company’s stock, valued at approximately $15,354,816.40. The trade was a 6.82 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

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

Globalstar Price Performance

GSAT remained flat at $1.95 during trading on Monday. 13,586,712 shares of the company’s stock were exchanged, compared to its average volume of 7,908,471. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average of $1.92. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.74. The company has a market cap of $3.69 billion, a PE ratio of -65.00 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 research report on Monday, November 11th.

Institutional Investors Weigh In On Globalstar

Large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Globalstar by 36.6% in the third quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock worth $1,575,000 after purchasing an additional 340,476 shares during the period. Geode Capital Management LLC boosted its position in shares of Globalstar by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock worth $20,852,000 after purchasing an additional 382,288 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in shares of Globalstar in the 3rd quarter valued at about $106,000. XTX Topco Ltd increased its position in Globalstar by 3,472.7% in the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after buying an additional 949,025 shares in the last quarter. Finally, State Street Corp raised its stake in Globalstar by 3.4% during the 3rd 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 period. Institutional investors and hedge funds own 18.89% of the company’s stock.

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.