Globalstar, Inc. (NYSEARCA:GSAT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in Globalstar, Inc. (NYSEARCA:GSAT) by 93.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,081 shares of the company’s stock after selling 211,128 shares during the period. New York State Common Retirement Fund’s holdings in Globalstar were worth $315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rossby Financial LCC purchased a new stake in shares of Globalstar in the 1st quarter valued at approximately $157,000. Sovran Advisors LLC purchased a new stake in shares of Globalstar during the 1st quarter worth approximately $1,279,000. Inlight Wealth Management LLC acquired a new position in shares of Globalstar in the 1st quarter valued at $122,000. GAMMA Investing LLC acquired a new stake in Globalstar during the 1st quarter worth $57,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Globalstar by 1.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 251,887 shares of the company’s stock valued at $521,000 after acquiring an additional 4,545 shares during the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Globalstar Stock Performance

NYSEARCA GSAT opened at $24.57 on Friday. The company has a fifty day moving average of $22.96 and a two-hundred day moving average of $18.44. The company has a market capitalization of $3.11 billion, a PE ratio of -819.00 and a beta of 0.91. Globalstar, Inc. has a 1 year low of $15.00 and a 1 year high of $41.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Insider Activity

In other news, Director James Monroe III purchased 25,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $18.77 per share, with a total value of $469,250.00. Following the completion of the transaction, the director directly owned 58,783,076 shares in the company, valued at approximately $1,103,358,336.52. This represents a 0.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 61.00% of the stock is currently owned by company 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.