144,397 Shares in Globalstar, Inc. (NYSEARCA:GSAT) Acquired by American Century Companies Inc.

American Century Companies Inc. purchased a new position in Globalstar, Inc. (NYSEARCA:GSAT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 144,397 shares of the company’s stock, valued at approximately $299,000.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its position in shares of Globalstar by 36.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the company’s stock worth $63,000 after buying an additional 8,000 shares in the last quarter. Rhumbline Advisers increased its stake in Globalstar by 0.9% in the 4th quarter. Rhumbline Advisers now owns 940,591 shares of the company’s stock worth $1,947,000 after acquiring an additional 8,352 shares during the last quarter. Xponance Inc. raised its holdings in shares of Globalstar by 17.8% during the 4th quarter. Xponance Inc. now owns 56,330 shares of the company’s stock worth $117,000 after acquiring an additional 8,494 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position 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 valued at $149,000 after acquiring an additional 9,506 shares during the last quarter. Finally, Fort Sheridan Advisors LLC grew its holdings in shares of Globalstar by 10.8% in the fourth quarter. Fort Sheridan Advisors LLC now owns 103,000 shares of the company’s stock valued at $213,000 after purchasing an additional 10,000 shares in the last quarter. 18.89% of the stock is owned by hedge funds and other institutional investors.

Globalstar Stock Up 1.3 %

Shares of Globalstar stock opened at $19.56 on Monday. Globalstar, Inc. has a 52-week low of $15.00 and a 52-week high of $41.10. The firm’s 50 day moving average price is $19.77 and its 200-day moving average price is $8.18. 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 company has a market cap of $37.05 billion, a P/E ratio of -652.00 and a beta of 1.07.

Wall Street Analysts Forecast Growth

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

Insider Activity at Globalstar

In other news, CEO Paul E. Jacobs sold 7,087 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $22.15, for a total value of $156,977.05. Following the transaction, the chief executive officer now owns 12,374 shares in the company, valued at $274,084.10. This trade represents a 36.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Monroe III purchased 209,546 shares of the firm’s stock in a transaction dated Friday, March 28th. The stock was acquired at an average cost of $22.52 per share, for a total transaction of $4,718,975.92. Following the completion of the purchase, the director now owns 790,097 shares of the company’s stock, valued at approximately $17,792,984.44. This represents a 36.09 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 259,546 shares of company stock valued at $5,784,726 and have sold 34,257 shares valued at $755,528. 60.76% of the stock is owned by insiders.

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.