Globalstar, Inc. (NYSE:GSAT) Director Buys $965,000.00 in Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III acquired 500,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $1.93 per share, for a total transaction of $965,000.00. Following the completion of the transaction, the director now owns 10,334,090 shares of the company’s stock, valued at $19,944,793.70. This trade represents a 5.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, December 20th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were purchased at an average price of $1.97 per share, for a total transaction of $985,000.00.
• On Wednesday, December 18th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were purchased at an average price of $2.00 per share, for a total transaction 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 price of $1.96 per share, for a total transaction of $980,000.00.
• On Friday, December 13th, James Monroe III purchased 530,000 shares of Globalstar stock. The stock was bought at an average price of $1.90 per share, for a total transaction of $1,007,000.00.

Globalstar Stock Up 3.3 %

NYSE:GSAT traded up $0.07 during trading hours on Thursday, reaching $2.04. The company had a trading volume of 3,581,282 shares, compared to its average volume of 8,017,312. The business has a 50-day simple moving average of $1.97. Globalstar, Inc. has a one year low of $1.00 and a one year high of $2.74. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -67.83 and a beta of 1.10. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91.

Analysts Set New Price Targets

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

Institutional Trading of Globalstar

Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Globalstar in the 3rd quarter valued at about $56,000. BNP Paribas Financial Markets increased its position in Globalstar by 26.4% in 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. Sender Co & Partners Inc. acquired a new stake in Globalstar in the 3rd quarter valued at about $106,000. Point72 Asia Singapore Pte. Ltd. increased 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 valued at $161,000 after acquiring an additional 117,864 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Globalstar by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after acquiring an additional 196,644 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors.

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.