James Monroe III Acquires 25,000 Shares of Globalstar, Inc. (NYSEARCA:GSAT) Stock

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III purchased 25,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $21.83 per share, with a total value of $545,750.00. Following the completion of the acquisition, the director now directly owns 897,273 shares of the company’s stock, valued at approximately $19,587,469.59. This trade represents a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, March 18th, James Monroe III purchased 25,000 shares of Globalstar stock. The stock was purchased at an average cost of $20.80 per share, with a total value of $520,000.00.
• On Thursday, December 26th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were bought at an average price of $2.10 per share, with a total value of $1,050,000.00.
• On Monday, December 23rd, James Monroe III purchased 500,000 shares of Globalstar stock. The shares were acquired at an average price of $1.93 per share, for a total transaction of $965,000.00.
• On Friday, December 20th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were purchased at an average cost of $1.97 per share, for a total transaction of $985,000.00.

Globalstar Price Performance

Shares of NYSEARCA:GSAT opened at $21.62 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. Globalstar, Inc. has a 1 year low of $15.00 and a 1 year high of $41.10. The company has a market capitalization of $40.95 billion, a PE ratio of -720.67 and a beta of 1.07. The company has a 50 day moving average price of $13.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. PFG Investments LLC bought a new position in shares of Globalstar during the 4th quarter worth about $25,000. IRON Financial LLC purchased a new position in Globalstar during the fourth quarter worth about $29,000. Mariner LLC increased its position in shares of Globalstar by 30.9% during the fourth quarter. Mariner LLC now owns 14,007 shares of the company’s stock valued at $29,000 after acquiring an additional 3,307 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Globalstar during the 4th quarter worth $33,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Globalstar in the fourth quarter valued at about $35,000. Institutional investors own 18.89% of the company’s stock.

Analyst Ratings Changes

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

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.