CWA Asset Management Group LLC Acquires New Stake in Globalstar, Inc. (NYSEAMERICAN:GSAT)

CWA Asset Management Group LLC bought a new stake in Globalstar, Inc. (NYSEAMERICAN:GSAT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 22,000 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC purchased a new position in Globalstar during the first quarter worth about $26,000. PFG Investments LLC lifted its holdings in shares of Globalstar by 83.3% during the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after acquiring an additional 10,000 shares during the period. Second Line Capital LLC acquired a new stake in shares of Globalstar in the first quarter worth approximately $34,000. XTX Topco Ltd purchased a new stake in Globalstar in the second quarter valued at approximately $31,000. Finally, Panagora Asset Management Inc. purchased a new stake in Globalstar in the second quarter valued at approximately $35,000. 18.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum boosted their price target on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Insiders Place Their Bets

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 sale, the vice president now directly owns 10,278,649 shares of the company’s stock, valued at $12,539,951.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Timothy Evan Taylor sold 395,000 shares of the business’s stock in a transaction dated 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 directly owns 10,278,649 shares of the company’s stock, valued at $12,539,951.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Rebecca Clary sold 75,000 shares of the 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. 61.00% of the stock is owned by company insiders.

Globalstar Price Performance

GSAT opened at $1.76 on Thursday. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.13. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of -62.67 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94. The company has a fifty day simple moving average of $1.25 and a 200 day simple moving average of $1.24.

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.