Charles Schwab Investment Management Inc. Buys 196,644 Shares of Globalstar, Inc. (NYSE:GSAT)

Charles Schwab Investment Management Inc. raised its holdings in shares of Globalstar, Inc. (NYSE:GSAT) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,186,012 shares of the company’s stock after buying an additional 196,644 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Globalstar were worth $7,671,000 at the end of the most recent reporting period.

Globalstar Trading Up 8.5 %

NYSE GSAT opened at $2.29 on Wednesday. The business has a 50-day moving average of $1.90. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.74. The company has a market capitalization of $4.33 billion, a PE ratio of -76.33 and a beta of 1.10.

Insider Activity

In other news, Director William A. Hasler sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total value of $173,700.00. Following the transaction, the director now directly owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This trade represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 61.00% of the company’s stock.

Analysts Set New Price Targets

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

About Globalstar

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.