American Century Companies Inc. Acquires 582,776 Shares of Globalstar, Inc. $GSAT

American Century Companies Inc. increased its holdings in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 403.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 727,173 shares of the company’s stock after acquiring an additional 582,776 shares during the period. American Century Companies Inc.’s holdings in Globalstar were worth $15,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in Globalstar by 48.0% during the 4th quarter. Wells Fargo & Company MN now owns 362,868 shares of the company’s stock worth $751,000 after purchasing an additional 117,627 shares during the period. Invesco Ltd. increased its holdings in Globalstar by 55.5% during the 4th quarter. Invesco Ltd. now owns 387,050 shares of the company’s stock worth $801,000 after purchasing an additional 138,092 shares during the period. Raymond James Financial Inc. purchased a new position in Globalstar during the 4th quarter worth $698,000. Barclays PLC increased its holdings in Globalstar by 8.4% during the 4th quarter. Barclays PLC now owns 1,376,718 shares of the company’s stock worth $2,849,000 after purchasing an additional 106,275 shares during the period. Finally, Mariner LLC increased its holdings in Globalstar by 30.9% during the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock worth $29,000 after purchasing an additional 3,307 shares during the period. 18.89% of the stock is owned by institutional investors.

Globalstar Trading Up 3.9%

GSAT opened at $26.70 on Monday. The stock’s fifty day moving average is $25.41 and its two-hundred day moving average is $21.90. The company has a market capitalization of $3.38 billion, a P/E ratio of -890.00 and a beta of 0.87. Globalstar, Inc. has a 52 week low of $15.00 and a 52 week high of $41.10. 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 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.