James Monroe III Buys 50,000 Shares of Globalstar, Inc. (NYSEARCA:GSAT) Stock

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III purchased 50,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was purchased at an average cost of $18.56 per share, for a total transaction of $928,000.00. Following the transaction, the director now owns 58,758,076 shares of the company’s stock, valued at approximately $1,090,549,890.56. This trade represents a 0.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, March 28th, James Monroe III bought 209,546 shares of Globalstar stock. The shares were bought at an average cost of $22.52 per share, for a total transaction of $4,718,975.92.
• On Thursday, March 20th, James Monroe III bought 25,000 shares of Globalstar stock. The shares were bought at an average cost of $21.83 per share, for a total transaction of $545,750.00.
• On Tuesday, March 18th, James Monroe III bought 25,000 shares of Globalstar stock. The shares were bought at an average cost of $20.80 per share, for a total transaction of $520,000.00.

Globalstar Stock Down 0.7%

Shares of NYSEARCA:GSAT opened at $18.92 on Wednesday. Globalstar, Inc. has a 52 week low of $15.00 and a 52 week high of $41.10. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The company’s fifty day moving average is $20.33 and its 200-day moving average is $10.77. The company has a market capitalization of $35.84 billion, a PE ratio of -630.67 and a beta of 1.07.

Analyst Ratings Changes

GSAT has been the topic of a number of research reports. B. Riley boosted their target price on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley lifted their price target on shares of Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Craig Hallum decreased their price target on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

Institutional Investors Weigh In On Globalstar

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Globalstar in the 1st quarter valued at $57,000. IFP Advisors Inc boosted its stake in shares of Globalstar by 59,255.6% in the 1st quarter. IFP Advisors Inc now owns 5,342 shares of the company’s stock valued at $111,000 after purchasing an additional 5,333 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of Globalstar in the 1st quarter valued at $122,000. New Age Alpha Advisors LLC acquired a new stake in shares of Globalstar in the 1st quarter valued at $150,000. Finally, Rossby Financial LCC acquired a new stake in shares of Globalstar in the 1st quarter valued at $157,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Company Profile

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.