Globalstar, Inc. (NYSE:GSAT) Director Acquires $985,000.00 in Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III acquired 500,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $1.97 per share, for a total transaction of $985,000.00. Following the completion of the acquisition, the director now directly owns 9,834,090 shares of the company’s stock, valued at $19,373,157.30. This trade represents a 5.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, December 18th, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was bought at an average cost of $2.00 per share, with a total value of $1,000,000.00.
• On Monday, December 16th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were purchased at an average cost of $1.96 per share, for a total transaction of $980,000.00.
• On Friday, December 13th, James Monroe III bought 530,000 shares of Globalstar stock. The stock was purchased at an average cost of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Stock Down 0.8 %

Shares of NYSE GSAT traded down $0.02 during trading hours on Monday, hitting $1.94. The company had a trading volume of 2,807,890 shares, compared to its average volume of 8,014,474. The stock has a market capitalization of $3.66 billion, a PE ratio of -64.50 and a beta of 1.10. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74. The firm’s 50 day moving average price is $1.95. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Analysts Set New Price Targets

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Globalstar during the 3rd quarter worth $56,000. Sender Co & Partners Inc. bought a new stake in shares of Globalstar during the third quarter worth $106,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Globalstar by 1,000.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock worth $161,000 after buying an additional 117,864 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Globalstar by 26.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after acquiring an additional 68,599 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after purchasing an additional 949,025 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

About Globalstar

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.