Procyon Advisors LLC Acquires New Shares in Globalstar, Inc. (NYSE:GSAT)

Procyon Advisors LLC bought a new position in shares of Globalstar, Inc. (NYSE:GSAT) during the third quarter, HoldingsChannel.com reports. The firm bought 38,000 shares of the company’s stock, valued at approximately $47,000.

Several other large investors also recently bought and sold shares of GSAT. PFG Investments LLC boosted its position in shares of Globalstar by 83.3% in the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after buying an additional 10,000 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Globalstar in the first quarter valued at about $26,000. Grant Street Asset Management Inc. acquired a new stake in shares of Globalstar in the first quarter valued at approximately $29,000. XTX Topco Ltd purchased a new position in shares of Globalstar during the 2nd quarter worth approximately $31,000. Finally, Second Line Capital LLC acquired a new position in shares of Globalstar during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Insider Activity at Globalstar

In other Globalstar news, CFO Rebecca Clary sold 75,000 shares of Globalstar stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 directly owns 1,418,745 shares of the company’s stock, valued at approximately $1,773,431.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Rebecca Clary sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total value of $93,750.00. Following the sale, the chief financial officer now directly owns 1,418,745 shares of the company’s stock, valued at approximately $1,773,431.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $481,900.00. Following the transaction, the vice president now directly owns 10,278,649 shares of the company’s stock, valued at $12,539,951.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 61.00% of the company’s stock.

Globalstar Stock Performance

Globalstar stock opened at $1.21 on Thursday. Globalstar, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $2.13. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -60.50 and a beta of 0.85. The stock has a fifty day moving average of $1.20 and a two-hundred day moving average of $1.23. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04.

Globalstar (NYSE:GSAT) last posted 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 analysts’ expectations of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. On average, analysts anticipate that Globalstar, Inc. will post -0.02 EPS for the current fiscal 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.