11,698 Shares in Globalstar, Inc. $GSAT Purchased by Intrua Financial LLC

Intrua Financial LLC bought a new position in shares of Globalstar, Inc. (NASDAQ:GSAT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,698 shares of the company’s stock, valued at approximately $714,000.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE lifted its stake in Globalstar by 610.7% during the 3rd quarter. US Bancorp DE now owns 931 shares of the company’s stock worth $34,000 after acquiring an additional 800 shares in the last quarter. Advisory Services Network LLC acquired a new position in Globalstar during the 3rd quarter worth about $40,000. CWM LLC lifted its stake in Globalstar by 100.6% during the 3rd quarter. CWM LLC now owns 1,324 shares of the company’s stock worth $48,000 after acquiring an additional 664 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Globalstar during the 4th quarter worth about $61,000. Finally, Jones Financial Companies Lllp lifted its stake in Globalstar by 146.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,841 shares of the company’s stock worth $63,000 after acquiring an additional 1,093 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GSAT. Clear Str lowered Globalstar from a “strong-buy” rating to a “hold” rating in a research note on Friday. Weiss Ratings raised Globalstar from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Zacks Research lowered Globalstar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Craig Hallum reissued a “buy” rating and set a $70.00 target price on shares of Globalstar in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.00.

Globalstar Trading Down 0.3%

GSAT opened at $81.71 on Tuesday. Globalstar, Inc. has a one year low of $17.76 and a one year high of $83.00. The company has a market cap of $10.52 billion, a P/E ratio of -544.73 and a beta of 1.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.56 and a current ratio of 1.60. The business’s 50-day simple moving average is $72.47 and its 200-day simple moving average is $64.98.

Globalstar (NASDAQ:GSAT) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.14). Globalstar had a negative net margin of 6.84% and a negative return on equity of 3.75%. The business had revenue of $70.06 million during the quarter. The company’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts expect that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity

In other news, CEO Paul E. Jacobs sold 1,153 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $57.31, for a total value of $66,078.43. Following the transaction, the chief executive officer owned 61,080 shares in the company, valued at approximately $3,500,494.80. This represents a 1.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Rebecca Clary sold 4,066 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $81.24, for a total value of $330,321.84. Following the completion of the transaction, the chief financial officer owned 121,198 shares in the company, valued at approximately $9,846,125.52. The trade was a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 12,257 shares of company stock worth $890,722. 60.00% of the stock is currently owned by insiders.

Globalstar Profile

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.