Northern Trust Corp Sells 6,206,524 Shares of Globalstar, Inc. $GSAT

Northern Trust Corp trimmed its position in Globalstar, Inc. (NYSEARCA:GSAT) by 92.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 489,286 shares of the company’s stock after selling 6,206,524 shares during the period. Northern Trust Corp’s holdings in Globalstar were worth $10,207,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV boosted its holdings in Globalstar by 4.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,912 shares of the company’s stock valued at $43,000 after purchasing an additional 900 shares during the period. GAMMA Investing LLC bought a new position in Globalstar in the 1st quarter valued at $57,000. Stifel Financial Corp boosted its holdings in Globalstar by 8.7% in the 4th quarter. Stifel Financial Corp now owns 36,087 shares of the company’s stock valued at $75,000 after purchasing an additional 2,894 shares during the period. Mariner LLC boosted its holdings in Globalstar by 30.9% in the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock valued at $29,000 after purchasing an additional 3,307 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Globalstar by 1.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 251,887 shares of the company’s stock valued at $521,000 after purchasing an additional 4,545 shares during the period. 18.89% of the stock is owned by institutional investors.

Globalstar Stock Up 1.8%

Shares of NYSEARCA:GSAT opened at $31.23 on Friday. The firm has a fifty day moving average price of $26.58 and a two-hundred day moving average price of $22.67. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. Globalstar, Inc. has a one year low of $15.00 and a one year high of $41.10. The company has a market cap of $3.96 billion, a price-to-earnings ratio of -1,041.00 and a beta of 1.01.

Globalstar Company 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.