MetLife Investment Management LLC Sells 56,846 Shares of Globalstar, Inc. (NYSE:GSAT)

MetLife Investment Management LLC cut its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 363,532 shares of the company’s stock after selling 56,846 shares during the quarter. MetLife Investment Management LLC’s holdings in Globalstar were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GSAT. Dynamic Technology Lab Private Ltd acquired a new position in shares of Globalstar during the third quarter worth $56,000. BNP Paribas Financial Markets raised its position in Globalstar by 26.4% in the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 shares during the last quarter. FMR LLC boosted its stake in shares of Globalstar by 32.7% during the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after purchasing an additional 1,102,776 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Globalstar by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after buying an additional 196,644 shares during the period. 18.89% of the stock is owned by institutional investors.

Insider Buying and Selling at Globalstar

In related news, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total transaction of $173,700.00. Following the sale, the director now directly owns 848,668 shares in the company, valued at approximately $1,637,929.24. This represents a 9.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Globalstar Stock Performance

NYSE GSAT opened at $2.21 on Friday. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.29. The firm has a market capitalization of $4.18 billion, a P/E ratio of -73.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.