Renaissance Technologies LLC Acquires 20,200 Shares of Globalstar, Inc. (NYSE:GSAT)

Renaissance Technologies LLC raised its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 176,629 shares of the company’s stock after buying an additional 20,200 shares during the period. Renaissance Technologies LLC’s holdings in Globalstar were worth $198,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Globalstar by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 73,234,084 shares of the company’s stock valued at $107,654,000 after buying an additional 1,494,552 shares during the last quarter. Anson Funds Management LP increased its stake in shares of Globalstar by 38.8% in the 1st quarter. Anson Funds Management LP now owns 10,835,267 shares of the company’s stock worth $15,928,000 after purchasing an additional 3,028,923 shares in the last quarter. Ashford Capital Management Inc. increased its stake in shares of Globalstar by 1,551.7% in the 1st 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 in the last quarter. Wolf Hill Capital Management LP increased its stake in shares of Globalstar by 57.3% in the 1st quarter. Wolf Hill Capital Management LP now owns 3,505,529 shares of the company’s stock worth $5,153,000 after purchasing an additional 1,276,866 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Globalstar by 12.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,791,176 shares of the company’s stock worth $3,126,000 after purchasing an additional 307,357 shares in the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Globalstar

In other Globalstar news, 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 sale, the vice president now owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Globalstar news, 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 sale, the vice president now owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief financial officer now 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 position. The disclosure for this sale can be found here. 61.00% of the stock is currently owned by company insiders.

Globalstar Stock Performance

NYSE:GSAT opened at $1.20 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -60.00 and a beta of 0.85. Globalstar, Inc. has a one year low of $1.01 and a one year high of $2.13. The business has a fifty day moving average price of $1.20 and a 200-day moving average price of $1.23.

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