Vanguard Group Inc. Grows Position in Globalstar, Inc. (NYSE:GSAT)

Vanguard Group Inc. lifted its position in shares of Globalstar, Inc. (NYSE:GSAT) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 71,739,532 shares of the company’s stock after acquiring an additional 2,547,398 shares during the period. Vanguard Group Inc.’s holdings in Globalstar were worth $139,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG grew its position in shares of Globalstar by 14.1% during the 3rd quarter. Deutsche Bank AG now owns 382,670 shares of the company’s stock valued at $501,000 after acquiring an additional 47,216 shares during the period. FMR LLC grew its holdings in Globalstar by 0.3% in the third quarter. FMR LLC now owns 3,375,719 shares of the company’s stock valued at $4,422,000 after purchasing an additional 10,491 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Globalstar in the third quarter valued at approximately $673,000. Evergreen Capital Management LLC acquired a new position in shares of Globalstar during the 3rd quarter worth approximately $53,000. Finally, Ashford Capital Management Inc. acquired a new position in shares of Globalstar during the 3rd quarter worth approximately $550,000. 18.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James Monroe III bought 4,510,855 shares of Globalstar stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $1.06 per share, with a total value of $4,781,506.30. Following the completion of the acquisition, the director now directly owns 8,708,254 shares of the company’s stock, valued at $9,230,749.24. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 61.00% of the stock is currently owned by insiders.

Globalstar Price Performance

Globalstar stock opened at $1.10 on Friday. The stock has a market capitalization of $2.09 billion, a P/E ratio of -55.00 and a beta of 0.90. The company’s fifty day moving average price is $1.08 and its 200 day moving average price is $1.20. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.90 and a current ratio of 1.00. Globalstar, Inc. has a 1 year low of $1.01 and a 1 year high of $2.13.

Globalstar (NYSE:GSAT) last announced its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Globalstar had a negative net margin of 19.14% and a negative return on equity of 11.66%. The business had revenue of $56.48 million for the quarter, compared to analyst estimates of $52.92 million. As a group, equities research analysts anticipate that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.

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.