Fort Sheridan Advisors LLC Has $213,000 Holdings in Globalstar, Inc. (NYSEARCA:GSAT)

Fort Sheridan Advisors LLC lifted its stake in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 103,000 shares of the company’s stock after acquiring an additional 10,000 shares during the period. Fort Sheridan Advisors LLC’s holdings in Globalstar were worth $213,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GSAT. PFG Investments LLC acquired a new stake in Globalstar in the 4th quarter worth approximately $25,000. CWA Asset Management Group LLC bought a new position in shares of Globalstar in the third quarter valued at approximately $27,000. IRON Financial LLC acquired a new stake in shares of Globalstar in the fourth quarter worth $29,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Globalstar in the third quarter worth $39,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Globalstar during the 4th quarter worth $41,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Stock Performance

NYSEARCA:GSAT opened at $21.59 on Friday. The stock’s 50-day moving average is $7.48. The company has a market cap of $40.90 billion, a P/E ratio of -719.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. Globalstar, Inc. has a 52-week low of $15.00 and a 52-week high of $41.10.

Analyst Ratings Changes

GSAT has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on shares of Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday. B. Riley boosted their price objective on Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Craig Hallum dropped their price target on Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday.

Insider Activity at Globalstar

In other news, Director William A. Hasler sold 90,000 shares of Globalstar stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total transaction of $173,700.00. Following the sale, the director now directly owns 848,668 shares in the company, valued at approximately $1,637,929.24. The trade was a 9.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Clary sold 37,688 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $2.13, for a total transaction of $80,275.44. Following the completion of the sale, the chief financial officer now directly owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. The trade was a 2.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 3,030,000 shares of company stock worth $5,987,000 and have sold 3,680,851 shares worth $8,136,154. Corporate insiders own 60.76% of the company’s stock.

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.