Clay Northam Wealth Management LLC Buys New Shares in Globalstar, Inc. (NYSEARCA:GSAT)

Clay Northam Wealth Management LLC purchased a new stake in shares of Globalstar, Inc. (NYSEARCA:GSAT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,000 shares of the company’s stock, valued at approximately $108,000.

Other hedge funds have also recently bought and sold shares of the company. Masso Torrence Wealth Management Inc. acquired a new stake in shares of Globalstar in the 4th quarter valued at approximately $52,000. Curbstone Financial Management Corp raised its position in Globalstar by 4.5% during the fourth quarter. Curbstone Financial Management Corp now owns 464,000 shares of the company’s stock worth $960,000 after acquiring an additional 20,000 shares in the last quarter. IRON Financial LLC acquired a new stake in Globalstar in the fourth quarter valued at $29,000. PFG Investments LLC bought a new position in shares of Globalstar in the 4th quarter valued at about $25,000. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Globalstar by 15.3% during the 4th quarter. Flagship Harbor Advisors LLC now owns 71,741 shares of the company’s stock worth $149,000 after purchasing an additional 9,506 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director William A. Hasler sold 90,000 shares of Globalstar stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total transaction of $173,700.00. Following the completion of the sale, the director now owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This trade represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Rebecca Clary sold 37,688 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $2.13, for a total transaction of $80,275.44. Following the completion of the transaction, the chief financial officer now owns 1,396,027 shares in the company, valued at $2,973,537.51. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 3,030,000 shares of company stock valued at $5,987,000 and sold 3,680,851 shares valued at $8,136,154. 60.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GSAT has been the subject of several recent analyst reports. StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum raised their price objective on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Globalstar Price Performance

GSAT stock opened at $1.50 on Tuesday. Globalstar, Inc. has a one year low of $1.00 and a one year high of $2.74. The company has a market capitalization of $2.84 billion, a PE ratio of -50.00 and a beta of 1.07. The stock’s fifty day moving average is $1.96. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09.

Globalstar 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.