Globalstar, Inc. (NYSEARCA:GSAT) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 811.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,696,947 shares of the company’s stock after purchasing an additional 1,510,712 shares during the period. Dimensional Fund Advisors LP owned 0.09% of Globalstar worth $3,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PFG Investments LLC acquired a new position in shares of Globalstar during the 4th quarter worth approximately $25,000. IRON Financial LLC acquired a new position in shares of Globalstar during the 4th quarter worth approximately $29,000. Mariner LLC lifted its holdings in Globalstar by 30.9% in 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. Sequoia Financial Advisors LLC acquired a new position in Globalstar in the fourth quarter valued at approximately $35,000. Finally, Vontobel Holding Ltd. acquired a new position in Globalstar in the fourth quarter valued at approximately $41,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GSAT has been the topic of a number of recent analyst reports. B. Riley upped their price objective on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Craig Hallum decreased their price objective on Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley upped their price objective on Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th.

Insider Buying and Selling at Globalstar

In other Globalstar news, VP Timothy Evan Taylor sold 26,333 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $22.04, for a total value of $580,379.32. Following the completion of the transaction, the vice president now owns 399,244 shares in the company, valued at $8,799,337.76. This represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Paul E. Jacobs sold 7,087 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $22.15, for a total transaction of $156,977.05. Following the sale, the chief executive officer now owns 12,374 shares of the company’s stock, valued at $274,084.10. This trade represents a 36.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 309,546 shares of company stock worth $6,712,726 and sold 34,257 shares worth $755,528. 60.76% of the stock is currently owned by insiders.

Globalstar Stock Performance

Shares of GSAT stock opened at $18.92 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The firm has a fifty day moving average price of $20.33 and a 200 day moving average price of $10.77. The company has a market cap of $35.84 billion, a P/E ratio of -630.67 and a beta of 1.07. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $41.10.

About Globalstar

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.