Globalstar (NASDAQ:GSAT) CFO Rebecca Clary Sells 420 Shares

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 420 shares of Globalstar stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $63.01, for a total transaction of $26,464.20. Following the sale, the chief financial officer directly owned 109,383 shares of the company’s stock, valued at $6,892,222.83. This represents a 0.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Rebecca Clary also recently made the following trade(s):

• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The shares were sold at an average price of $56.64, for a total value of $273,514.56.
• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total value of $273,514.56.
• On Monday, December 8th, Rebecca Clary sold 1,221 shares of Globalstar stock. The stock was sold at an average price of $67.88, for a total value of $82,881.48.
• On Monday, December 1st, Rebecca Clary sold 4,380 shares of Globalstar stock. The shares were sold at an average price of $59.92, for a total value of $262,449.60.
• On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The shares were sold at an average price of $58.32, for a total value of $951,549.12.
• On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The stock was sold at an average price of $60.84, for a total value of $72,277.92.
• On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The stock was sold at an average price of $61.34, for a total value of $3,435.04.
• On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The shares were sold at an average price of $48.31, for a total transaction of $220,873.32.
• On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The stock was sold at an average price of $44.43, for a total transaction of $192,515.19.
• On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The shares were sold at an average price of $35.01, for a total transaction of $73,521.00.

Globalstar Trading Up 7.0%

GSAT opened at $66.63 on Tuesday. The firm’s fifty day moving average is $56.65 and its two-hundred day moving average is $38.73. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.46 and a current ratio of 2.53. The firm has a market cap of $8.45 billion, a PE ratio of -144.85 and a beta of 1.08. Globalstar, Inc. has a twelve month low of $17.24 and a twelve month high of $74.88.

Globalstar (NASDAQ:GSAT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. Globalstar had a negative net margin of 21.07% and a negative return on equity of 3.67%. The company had revenue of $73.85 million during the quarter. During the same period last year, the firm earned $0.06 EPS. Globalstar’s quarterly revenue was up 2.1% on a year-over-year basis.

Hedge Funds Weigh In On Globalstar

A number of large investors have recently bought and sold shares of GSAT. Vanguard Group Inc. grew its stake in shares of Globalstar by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,233,721 shares of the company’s stock worth $190,455,000 after acquiring an additional 141,451 shares in the last quarter. Greenhouse Funds LLLP boosted its holdings in Globalstar by 6.1% during the third quarter. Greenhouse Funds LLLP now owns 2,149,192 shares of the company’s stock worth $78,209,000 after purchasing an additional 123,676 shares during the last quarter. Ashford Capital Management Inc. grew its position in Globalstar by 3.8% in the third quarter. Ashford Capital Management Inc. now owns 1,409,321 shares of the company’s stock valued at $51,285,000 after purchasing an additional 51,703 shares in the last quarter. Senvest Management LLC increased its stake in Globalstar by 51.6% in the 2nd quarter. Senvest Management LLC now owns 1,330,533 shares of the company’s stock valued at $31,334,000 after buying an additional 452,624 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Globalstar by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,274,523 shares of the company’s stock worth $30,019,000 after buying an additional 20,514 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GSAT shares. Deutsche Bank Aktiengesellschaft started coverage on Globalstar in a report on Tuesday, December 16th. They set a “hold” rating and a $62.00 price objective on the stock. Zacks Research downgraded shares of Globalstar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. B. Riley upped their price target on shares of Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Globalstar in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Globalstar currently has a consensus rating of “Hold” and a consensus target price of $68.50.

Globalstar Company Profile

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.