Globalstar, Inc. (NASDAQ:GSAT) Director Acquires $934,000.00 in Stock

Globalstar, Inc. (NASDAQ:GSAT) Director James Monroe III purchased 50,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $18.68 per share, for a total transaction of $934,000.00. Following the purchase, the director now owns 58,833,076 shares in the company, valued at $1,099,001,859.68. This trade represents a 0.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Globalstar Price Performance

GSAT opened at $18.31 on Thursday. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $41.10. The firm has a market capitalization of $2.32 billion, a P/E ratio of -25.08 and a beta of 0.87.

Hedge Funds Weigh In On Globalstar

A hedge fund recently bought a new stake in Globalstar stock. Acadian Asset Management LLC acquired a new position in shares of Globalstar, Inc. (NASDAQ:GSAT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,777 shares of the company’s stock, valued at approximately $99,000. 18.89% of the stock is currently owned by institutional investors.

About Globalstar

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.