Globalstar, Inc. (NYSE:GSAT) Director Purchases $1,000,000.00 in Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $2.00 per share, with a total value of $1,000,000.00. Following the transaction, the director now directly owns 8,834,090 shares in the company, valued at $17,668,180. This trade represents a 6.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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, with a total value 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 price of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Stock Up 3.7 %

Shares of Globalstar stock opened at $1.95 on Friday. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.74. 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 firm has a market capitalization of $3.69 billion, a PE ratio of -65.00 and a beta of 1.10. The stock has a fifty day simple moving average of $1.95.

Institutional Investors Weigh In On Globalstar

A number of institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in shares of Globalstar in the 3rd quarter valued at about $56,000. Sender Co & Partners Inc. acquired a new position in Globalstar in the 3rd quarter valued at approximately $106,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Globalstar by 1,000.5% in the 3rd 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 stake 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 buying an additional 68,599 shares during the period. Finally, XTX Topco Ltd grew its holdings in shares of Globalstar by 3,472.7% during the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after acquiring an additional 949,025 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

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.