Globalstar (NASDAQ:GSAT) CFO Rebecca Clary Sells 4,333 Shares of Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 4,333 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $44.43, for a total value of $192,515.19. Following the sale, the chief financial officer owned 110,852 shares of the company’s stock, valued at approximately $4,925,154.36. This trade represents a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Rebecca Clary also recently made the following trade(s):

• On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The stock was sold at an average price of $35.01, for a total value of $73,521.00.
• On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The stock was sold at an average price of $29.75, for a total value of $159,430.25.

Globalstar Price Performance

Shares of Globalstar stock opened at $44.28 on Friday. The firm has a market cap of $5.61 billion, a PE ratio of -98.40 and a beta of 0.99. The business’s 50 day moving average is $33.87. Globalstar, Inc. has a 1-year low of $15.00 and a 1-year high of $47.44. The company has a current ratio of 2.81, a quick ratio of 2.72 and a debt-to-equity ratio of 1.30.

Globalstar (NASDAQ:GSAT) last issued its earnings results on Thursday, August 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.22. The business had revenue of $67.15 million for the quarter. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%. Globalstar has set its FY 2025 guidance at EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GSAT. Weiss Ratings restated a “sell (d-)” rating on shares of Globalstar in a report on Wednesday, October 8th. Zacks Research cut Globalstar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen upgraded Globalstar from a “sell” rating to a “hold” rating in a report on Monday, June 23rd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Broad Bay Capital Management LP purchased a new stake in Globalstar in the second quarter valued at approximately $18,405,000. Marshall Wace LLP raised its position in Globalstar by 2,093.4% in the second quarter. Marshall Wace LLP now owns 777,728 shares of the company’s stock valued at $18,315,000 after purchasing an additional 742,271 shares during the period. Senvest Management LLC raised its position in Globalstar by 51.6% in the second quarter. Senvest Management LLC now owns 1,330,533 shares of the company’s stock valued at $31,334,000 after purchasing an additional 452,624 shares during the period. Penserra Capital Management LLC raised its position in Globalstar by 320.9% in the second quarter. Penserra Capital Management LLC now owns 486,521 shares of the company’s stock valued at $11,456,000 after purchasing an additional 370,943 shares during the period. Finally, American Century Companies Inc. raised its position in Globalstar by 39.5% in the second quarter. American Century Companies Inc. now owns 1,014,336 shares of the company’s stock valued at $23,888,000 after purchasing an additional 287,163 shares during the period. 18.89% of the stock is currently owned by institutional investors and hedge funds.

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.