Globalstar, Inc. (NYSE:GSAT) Shares Bought by Murchinson Ltd.

Murchinson Ltd. grew its position in Globalstar, Inc. (NYSE:GSAT) by 24.6% in the second quarter, Holdings Channel.com reports. The fund owned 1,245,999 shares of the company’s stock after buying an additional 245,999 shares during the period. Murchinson Ltd.’s holdings in Globalstar were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Inspire Investing LLC increased its holdings in shares of Globalstar by 28.2% in the 2nd quarter. Inspire Investing LLC now owns 318,617 shares of the company’s stock valued at $357,000 after acquiring an additional 70,179 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Globalstar in the 2nd quarter valued at approximately $31,000. Renaissance Technologies LLC increased its holdings in shares of Globalstar by 12.9% in the 2nd quarter. Renaissance Technologies LLC now owns 176,629 shares of the company’s stock valued at $198,000 after acquiring an additional 20,200 shares during the last quarter. PFG Investments LLC increased its holdings in shares of Globalstar by 83.3% in the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Magnus Financial Group LLC grew its stake in Globalstar by 1.9% during the 2nd quarter. Magnus Financial Group LLC now owns 2,707,796 shares of the company’s stock worth $3,033,000 after buying an additional 50,000 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Rebecca Clary sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total transaction of $93,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,418,745 shares in the company, valued at approximately $1,773,431.25. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total value of $93,750.00. Following the completion of the transaction, the chief financial officer now owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Timothy Evan Taylor sold 395,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total value of $481,900.00. Following the completion of the transaction, the vice president now directly owns 10,278,649 shares of the company’s stock, valued at approximately $12,539,951.78. The disclosure for this sale can be found here. 61.00% of the stock is owned by company insiders.

Globalstar Price Performance

Shares of GSAT opened at $1.23 on Friday. The company has a market cap of $2.34 billion, a P/E ratio of -61.50 and a beta of 0.86. The stock has a fifty day moving average price of $1.24 and a 200 day moving average price of $1.22. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. Globalstar, Inc. has a 12 month low of $1.01 and a 12 month high of $2.13.

Globalstar (NYSE:GSAT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $60.39 million during the quarter, compared to the consensus estimate of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. On average, research analysts forecast that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Globalstar 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.