B. Riley Wealth Advisors Inc. Cuts Position in Globalstar, Inc. (NYSE:GSAT)

B. Riley Wealth Advisors Inc. reduced its position in shares of Globalstar, Inc. (NYSE:GSAT) by 57.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,830 shares of the company’s stock after selling 89,000 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Globalstar were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashford Capital Management Inc. increased its stake in Globalstar by 1,551.7% during the first quarter. Ashford Capital Management Inc. now owns 7,027,954 shares of the company’s stock worth $10,331,000 after purchasing an additional 6,602,454 shares during the period. Anson Funds Management LP grew its holdings in shares of Globalstar by 38.8% in the first quarter. Anson Funds Management LP now owns 10,835,267 shares of the company’s stock valued at $15,928,000 after purchasing an additional 3,028,923 shares in the last quarter. Vanguard Group Inc. increased its stake in Globalstar by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock worth $139,175,000 after buying an additional 2,547,398 shares during the period. Wolf Hill Capital Management LP lifted its holdings in Globalstar by 57.3% during the 1st quarter. Wolf Hill Capital Management LP now owns 3,505,529 shares of the company’s stock worth $5,153,000 after buying an additional 1,276,866 shares in the last quarter. Finally, Murchinson Ltd. purchased a new position in Globalstar in the 1st quarter valued at approximately $1,470,000. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Globalstar Stock Down 0.8 %

Globalstar stock opened at $1.20 on Friday. The firm has a market capitalization of $2.28 billion, a P/E ratio of -60.00 and a beta of 0.85. 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 twelve month low of $1.01 and a twelve month high of $2.13. The stock’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $1.23.

Globalstar (NYSE:GSAT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. The company had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. As a group, equities analysts expect that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total value of $93,750.00. Following the transaction, the chief financial officer now owns 1,418,745 shares in the company, valued at approximately $1,773,431.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Timothy Evan Taylor sold 395,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $1.22, for a total value of $481,900.00. Following the completion of the sale, the vice president now owns 10,278,649 shares in the company, valued at $12,539,951.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rebecca Clary sold 75,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total transaction of $93,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 61.00% of the stock is owned by company insiders.

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.