Zurcher Kantonalbank Zurich Cantonalbank Sells 109,353 Shares of Globalstar, Inc. (NYSEARCA:GSAT)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Globalstar, Inc. (NYSEARCA:GSAT) by 93.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,811 shares of the company’s stock after selling 109,353 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Globalstar were worth $163,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GSAT. Greenhouse Funds LLLP lifted its stake in shares of Globalstar by 14.2% during the fourth quarter. Greenhouse Funds LLLP now owns 26,492,248 shares of the company’s stock valued at $54,839,000 after acquiring an additional 3,300,470 shares during the period. Capital Research Global Investors acquired a new position in shares of Globalstar during the fourth quarter valued at $36,997,000. Wolf Hill Capital Management LP lifted its stake in shares of Globalstar by 80.0% during the fourth quarter. Wolf Hill Capital Management LP now owns 13,050,023 shares of the company’s stock valued at $27,014,000 after acquiring an additional 5,799,366 shares during the period. Ashford Capital Management Inc. lifted its stake in shares of Globalstar by 68.9% during the fourth quarter. Ashford Capital Management Inc. now owns 12,369,340 shares of the company’s stock valued at $25,605,000 after acquiring an additional 5,047,600 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Globalstar by 0.5% during the fourth quarter. Northern Trust Corp now owns 6,695,810 shares of the company’s stock valued at $13,860,000 after acquiring an additional 35,289 shares during the period. Institutional investors own 18.89% of the company’s stock.

Insider Buying and Selling

In related news, Director James Monroe III acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average price of $18.77 per share, for a total transaction of $469,250.00. Following the completion of the acquisition, the director owned 58,783,076 shares of the company’s stock, valued at $1,103,358,336.52. This trade represents a 0.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 61.00% of the company’s stock.

Globalstar Trading Up 13.1%

Shares of GSAT opened at $28.47 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 12-month low of $15.00 and a 12-month high of $41.10. The firm has a market capitalization of $3.60 billion, a PE ratio of -949.00 and a beta of 0.87. The stock’s fifty day simple moving average is $24.20 and its 200-day simple moving average is $20.15.

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.