Globalstar, Inc. (NYSEARCA:GSAT) VP Timothy Evan Taylor Sells 26,333 Shares

Globalstar, Inc. (NYSEARCA:GSAT) VP Timothy Evan Taylor sold 26,333 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $22.04, for a total transaction of $580,379.32. Following the completion of the transaction, the vice president now owns 399,244 shares in the company, valued at $8,799,337.76. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Globalstar Price Performance

NYSEARCA:GSAT opened at $21.33 on Friday. The firm has a fifty day moving average price of $11.45. Globalstar, Inc. has a 1-year low of $15.00 and a 1-year high of $41.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The stock has a market cap of $40.40 billion, a price-to-earnings ratio of -711.00 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley raised 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, February 26th. B. Riley raised their target price on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Craig Hallum lowered their target price on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 28th.

Hedge Funds Weigh In On Globalstar

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its position 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 buying an additional 900 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Globalstar by 8.7% during the 4th quarter. Stifel Financial Corp now owns 36,087 shares of the company’s stock worth $75,000 after purchasing an additional 2,894 shares in the last quarter. Mariner LLC boosted its position in shares of 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 in the last quarter. Legal & General Group Plc boosted its position in shares of Globalstar by 0.8% during the 4th quarter. Legal & General Group Plc now owns 854,923 shares of the company’s stock worth $1,770,000 after purchasing an additional 7,132 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Globalstar by 48.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 22,830 shares of the company’s stock worth $47,000 after purchasing an additional 7,500 shares in the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

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.