James Monroe III Purchases 100,000 Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) Stock

Globalstar, Inc. (NYSEAMERICAN:GSATGet Rating) Director James Monroe III acquired 100,000 shares of Globalstar stock in a transaction on Thursday, September 15th. The shares were bought at an average price of $1.83 per share, with a total value of $183,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $183,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Globalstar Stock Performance

NYSEAMERICAN:GSAT opened at $1.83 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.50 and a quick ratio of 0.38. The business’s fifty day moving average is $1.59. The firm has a market capitalization of $3.30 billion, a PE ratio of -36.60 and a beta of 0.26. Globalstar, Inc. has a fifty-two week low of $0.90 and a fifty-two week high of $2.98.

Globalstar (NYSEAMERICAN:GSATGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The Wireless communications provider reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $36.80 million during the quarter, compared to analysts’ expectations of $29.71 million. Globalstar had a negative net margin of 74.68% and a negative return on equity of 28.57%. Research analysts forecast that Globalstar, Inc. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Globalstar

A number of hedge funds have recently modified their holdings of GSAT. ProShare Advisors LLC raised its position in shares of Globalstar by 67.1% in the fourth quarter. ProShare Advisors LLC now owns 136,304 shares of the Wireless communications provider’s stock valued at $158,000 after buying an additional 54,721 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Globalstar by 13.1% in the fourth quarter. BNP Paribas Arbitrage SA now owns 130,477 shares of the Wireless communications provider’s stock valued at $151,000 after buying an additional 15,090 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Globalstar by 4.7% in the fourth quarter. HighTower Advisors LLC now owns 1,074,360 shares of the Wireless communications provider’s stock valued at $1,246,000 after purchasing an additional 48,666 shares during the period. Freestone Capital Holdings LLC purchased a new stake in shares of Globalstar in the fourth quarter valued at about $70,000. Finally, Penserra Capital Management LLC grew its holdings in shares of Globalstar by 1.9% in the fourth quarter. Penserra Capital Management LLC now owns 2,352,270 shares of the Wireless communications provider’s stock valued at $2,728,000 after purchasing an additional 43,546 shares during the period. 18.13% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Company Profile

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Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.

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