XTX Topco Ltd acquired a new position in Globalstar, Inc. (NYSE:GSAT – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,328 shares of the company’s stock, valued at approximately $31,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in Globalstar by 12.9% during the second quarter. Renaissance Technologies LLC now owns 176,629 shares of the company’s stock worth $198,000 after buying an additional 20,200 shares during the last quarter. PFG Investments LLC boosted its holdings in Globalstar by 83.3% during the second quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after buying an additional 10,000 shares during the last quarter. Magnus Financial Group LLC boosted its holdings in Globalstar by 1.9% during the second 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. Rhumbline Advisers boosted its holdings in Globalstar by 2.9% during the second quarter. Rhumbline Advisers now owns 1,021,836 shares of the company’s stock worth $1,144,000 after buying an additional 28,496 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Globalstar by 154.9% during the second quarter. CIBC Asset Management Inc now owns 53,535 shares of the company’s stock worth $60,000 after buying an additional 32,535 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.
Globalstar Price Performance
Shares of GSAT opened at $1.17 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94. Globalstar, Inc. has a 1 year low of $1.01 and a 1 year high of $2.13. The stock has a market cap of $2.22 billion, a P/E ratio of -58.50 and a beta of 0.86. The stock’s 50-day moving average price is $1.22 and its two-hundred day moving average price is $1.22.
Insider Activity
In other news, VP Timothy Evan Taylor sold 395,000 shares of Globalstar stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total transaction of $481,900.00. Following the transaction, the vice president now owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Globalstar news, CFO Rebecca Clary sold 75,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 1,418,745 shares in the company, valued at approximately $1,773,431.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy Evan Taylor sold 395,000 shares of the company’s stock in a transaction that occurred 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 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 currently owned by company insiders.
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.
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