Vanguard Group Inc. Raises Position in Globalstar, Inc. (NYSE:GSAT)

Vanguard Group Inc. grew its position in shares of Globalstar, Inc. (NYSE:GSATFree Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,739,532 shares of the company’s stock after buying an additional 2,547,398 shares during the quarter. Vanguard Group Inc. owned 3.78% of Globalstar worth $139,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GSAT. Wolf Hill Capital Management LP bought a new position in Globalstar during the 4th quarter valued at about $4,324,000. Locust Wood Capital Advisers LLC bought a new position in Globalstar during the fourth quarter valued at approximately $2,769,000. Quadrature Capital Ltd bought a new position in Globalstar during the third quarter valued at approximately $673,000. Plustick Management LLC boosted its holdings in Globalstar by 4.7% in the fourth quarter. Plustick Management LLC now owns 9,949,000 shares of the company’s stock worth $19,301,000 after purchasing an additional 450,000 shares during the last quarter. Finally, Ashford Capital Management Inc. bought a new stake in Globalstar in the 3rd quarter worth approximately $550,000. Institutional investors own 18.89% of the company’s stock.

Globalstar Price Performance

Shares of GSAT opened at $1.10 on Friday. The firm has a market cap of $2.09 billion, a PE ratio of -55.00 and a beta of 0.90. Globalstar, Inc. has a 1-year low of $1.01 and a 1-year high of $2.13. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.97. The firm has a fifty day simple moving average of $1.08 and a two-hundred day simple moving average of $1.20.

Globalstar (NYSE:GSATGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $56.48 million during the quarter, compared to analysts’ expectations of $52.92 million. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. On average, equities analysts anticipate that Globalstar, Inc. will post -0.02 EPS for the current year.

Insider Transactions at Globalstar

In other Globalstar news, Director James Monroe III bought 4,510,855 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average cost of $1.06 per share, for a total transaction of $4,781,506.30. Following the completion of the transaction, the director now owns 8,708,254 shares of the company’s stock, valued at approximately $9,230,749.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 61.00% of the company’s stock.

About Globalstar

(Free Report)

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.

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Institutional Ownership by Quarter for Globalstar (NYSE:GSAT)

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