FNY Investment Advisers LLC Increases Stock Holdings in Globalstar, Inc. (NYSEARCA:GSAT)

FNY Investment Advisers LLC increased its stake in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 261.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 53,465 shares of the company’s stock after purchasing an additional 38,685 shares during the quarter. FNY Investment Advisers LLC’s holdings in Globalstar were worth $110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GSAT. Rhumbline Advisers increased its position in Globalstar by 2.9% during the second quarter. Rhumbline Advisers now owns 1,021,836 shares of the company’s stock valued at $1,144,000 after acquiring an additional 28,496 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Globalstar by 12.9% during the 2nd quarter. Renaissance Technologies LLC now owns 176,629 shares of the company’s stock worth $198,000 after purchasing an additional 20,200 shares during the period. XTX Topco Ltd purchased a new position in shares of Globalstar during the 2nd quarter worth about $31,000. Inspire Investing LLC grew its holdings in Globalstar by 28.2% during the 2nd quarter. Inspire Investing LLC now owns 318,617 shares of the company’s stock valued at $357,000 after purchasing an additional 70,179 shares during the last quarter. Finally, Murchinson Ltd. raised its position in Globalstar by 24.6% in the 2nd quarter. Murchinson Ltd. now owns 1,245,999 shares of the company’s stock worth $1,396,000 after purchasing an additional 245,999 shares during the period. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Globalstar Trading Up 1.1 %

Shares of GSAT opened at $1.82 on Wednesday. The company’s fifty day moving average is $2.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -60.67 and a beta of 0.88. Globalstar, Inc. has a 12-month low of $1.00 and a 12-month high of $2.74.

Insider Buying and Selling at Globalstar

In other Globalstar news, VP Timothy Evan Taylor sold 3,500,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $2.22, for a total transaction of $7,770,000.00. Following the transaction, the vice president now directly owns 6,383,649 shares in the company, valued at $14,171,700.78. This trade represents a 35.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the completion of the sale, the director now owns 848,668 shares of the company’s stock, valued at $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,030,000 shares of company stock valued at $5,987,000 and sold 3,680,851 shares valued at $8,136,154. 61.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GSAT. Craig Hallum boosted their target price on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

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.