Wealth Enhancement Advisory Services LLC Sells 233,491 Shares of Globalstar, Inc. (NYSEARCA:GSAT)

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 92.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,396 shares of the company’s stock after selling 233,491 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Globalstar were worth $384,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new position in shares of Globalstar in the 4th quarter valued at about $36,997,000. Wolf Hill Capital Management LP boosted its stake in shares of Globalstar by 80.0% in the 4th quarter. Wolf Hill Capital Management LP now owns 13,050,023 shares of the company’s stock valued at $27,014,000 after purchasing an additional 5,799,366 shares during the last quarter. Ashford Capital Management Inc. boosted its stake in shares of Globalstar by 68.9% in the 4th quarter. Ashford Capital Management Inc. now owns 12,369,340 shares of the company’s stock valued at $25,605,000 after purchasing an additional 5,047,600 shares during the last quarter. AGF Management Ltd. bought a new position in shares of Globalstar in the 4th quarter valued at about $7,873,000. Finally, Greenhouse Funds LLLP boosted its stake in shares of Globalstar by 14.2% in the 4th quarter. Greenhouse Funds LLLP now owns 26,492,248 shares of the company’s stock valued at $54,839,000 after purchasing an additional 3,300,470 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

Globalstar Stock Up 2.6%

Shares of NYSEARCA GSAT opened at $24.40 on Monday. The firm has a market capitalization of $3.09 billion, a PE ratio of -813.33 and a beta of 0.91. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 1 year low of $15.00 and a 1 year high of $41.10. The firm’s 50-day moving average is $20.73 and its 200-day moving average is $15.97.

Insider Buying and Selling at Globalstar

In other news, Director James Monroe III purchased 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $18.77 per share, for a total transaction of $469,250.00. Following the transaction, the director directly owned 58,783,076 shares of the company’s stock, valued at approximately $1,103,358,336.52. The trade was a 0.04% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 61.00% of the stock is owned by corporate insiders.

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.