Quadrature Capital Ltd Cuts Position in Globalstar, Inc. (NYSE:GSAT)

Quadrature Capital Ltd reduced its stake in Globalstar, Inc. (NYSE:GSAT) by 66.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,874 shares of the company’s stock after selling 339,006 shares during the period. Quadrature Capital Ltd’s holdings in Globalstar were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GSAT. Intellectus Partners LLC boosted its holdings in shares of Globalstar by 5.0% during the 4th quarter. Intellectus Partners LLC now owns 188,210 shares of the company’s stock valued at $365,000 after acquiring an additional 9,000 shares during the last quarter. FMR LLC boosted its holdings in Globalstar by 0.3% in the third quarter. FMR LLC now owns 3,375,719 shares of the company’s stock worth $4,422,000 after purchasing an additional 10,491 shares during the last quarter. Abel Hall LLC bought a new stake in Globalstar in the 4th quarter worth approximately $26,000. Panagora Asset Management Inc. bought a new stake in Globalstar in the 4th quarter worth approximately $35,000. Finally, HighMark Wealth Management LLC lifted its holdings in shares of Globalstar by 16.2% during the 4th quarter. HighMark Wealth Management LLC now owns 143,500 shares of the company’s stock valued at $278,000 after buying an additional 20,000 shares during the period. 18.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Globalstar from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th.

Globalstar Stock Down 0.9 %

NYSE GSAT opened at $1.05 on Wednesday. The stock’s 50-day moving average price is $1.09 and its 200-day moving average price is $1.23. The company has a market capitalization of $2.00 billion, a P/E ratio of -52.50 and a beta of 0.83. Globalstar, Inc. has a 52 week low of $0.97 and a 52 week high of $2.13. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.97.

Globalstar (NYSE:GSAT) last issued its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $56.48 million during the quarter, compared to the consensus estimate of $52.92 million. Globalstar had a negative net margin of 19.14% and a negative return on equity of 11.66%. On average, equities research analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current year.

About Globalstar

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.