Natixis Invests $268,000 in Globalstar, Inc. (NYSE:GSAT)

Natixis bought a new stake in shares of Globalstar, Inc. (NYSE:GSAT) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 182,603 shares of the company’s stock, valued at approximately $268,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Globalstar by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock valued at $90,642,000 after purchasing an additional 418,008 shares during the period. HighMark Wealth Management LLC boosted its stake in shares of Globalstar by 16.2% during the 4th quarter. HighMark Wealth Management LLC now owns 143,500 shares of the company’s stock worth $278,000 after acquiring an additional 20,000 shares in the last quarter. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Globalstar during the 4th quarter valued at about $360,000. New York State Common Retirement Fund raised its holdings in Globalstar by 10.1% in the 4th quarter. New York State Common Retirement Fund now owns 246,519 shares of the company’s stock worth $478,000 after purchasing an additional 22,624 shares during the period. Finally, Intellectus Partners LLC boosted its stake in Globalstar by 5.0% during the 4th quarter. Intellectus Partners LLC now owns 188,210 shares of the company’s stock worth $365,000 after purchasing an additional 9,000 shares during the last quarter. 18.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Globalstar news, Director James Monroe III bought 4,510,855 shares of the business’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $1.06 per share, with a total value of $4,781,506.30. Following the completion of the purchase, the director now directly owns 8,708,254 shares in the company, valued at $9,230,749.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 61.00% of the stock is currently owned by corporate insiders.

Globalstar Price Performance

Shares of NYSE GSAT opened at $1.25 on Friday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -62.50 and a beta of 0.90. Globalstar, Inc. has a 52 week low of $1.01 and a 52 week high of $2.13. The firm has a 50-day simple moving average of $1.19 and a 200-day simple moving average of $1.18. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.97.

Globalstar (NYSE:GSAT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $56.48 million during the quarter, compared to the consensus estimate of $52.92 million. Globalstar had a negative net margin of 19.14% and a negative return on equity of 11.66%. On average, equities analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.

Globalstar 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.