Globalstar, Inc. (NYSEARCA:GSAT) Director Purchases 25,000 Shares

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III purchased 25,000 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was acquired at an average price of $20.80 per share, with a total value of $520,000.00. Following the purchase, the director now directly owns 847,273 shares in the company, valued at $17,623,278.40. This represents a 3.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

James Monroe III also recently made the following trade(s):

• On Thursday, December 26th, James Monroe III acquired 500,000 shares of Globalstar stock. The stock was acquired at an average cost of $2.10 per share, with a total value of $1,050,000.00.
• On Monday, December 23rd, James Monroe III bought 500,000 shares of Globalstar stock. The shares were acquired at an average cost of $1.93 per share, for a total transaction of $965,000.00.
• On Friday, December 20th, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was acquired at an average price of $1.97 per share, with a total value of $985,000.00.
• On Wednesday, December 18th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were bought at an average price of $2.00 per share, for a total transaction of $1,000,000.00.

Globalstar Trading Up 4.4 %

Shares of NYSEARCA:GSAT opened at $21.70 on Thursday. The firm has a 50-day simple moving average of $12.61. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $41.10. The company has a market cap of $41.10 billion, a P/E ratio of -723.33 and a beta of 1.07.

Institutional Investors Weigh In On Globalstar

Several institutional investors have recently modified their holdings of GSAT. Vanguard Group Inc. boosted its stake in shares of Globalstar by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 75,335,688 shares of the company’s stock worth $155,945,000 after purchasing an additional 540,882 shares during the period. Greenhouse Funds LLLP boosted its position in shares of Globalstar by 14.2% during the fourth quarter. Greenhouse Funds LLLP now owns 26,492,248 shares of the company’s stock valued at $54,839,000 after buying an additional 3,300,470 shares during the period. Capital Research Global Investors bought a new position in shares of Globalstar during the fourth quarter valued at approximately $36,997,000. State Street Corp raised its holdings in shares of Globalstar by 3.4% in the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after buying an additional 580,305 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Globalstar by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock worth $20,852,000 after acquiring an additional 382,288 shares during the last quarter. 18.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GSAT shares. Craig Hallum cut their target price on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Morgan Stanley increased their price objective on shares of Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, B. Riley raised their price objective on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

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.