BNP Paribas Financial Markets Has $407,000 Stock Holdings in Globalstar, Inc. (NYSE:GSAT)

BNP Paribas Financial Markets boosted its position in shares of Globalstar, Inc. (NYSE:GSAT) by 26.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 328,298 shares of the company’s stock after purchasing an additional 68,599 shares during the quarter. BNP Paribas Financial Markets’ holdings in Globalstar were worth $407,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. FMR LLC lifted its holdings in Globalstar by 32.7% during the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after buying an additional 1,102,776 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Globalstar by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after buying an additional 196,644 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Globalstar during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Wall Street Analyst Weigh In

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

Globalstar Stock Down 2.5 %

GSAT stock opened at $1.95 on Friday. The company has a fifty day moving average of $1.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The firm has a market cap of $3.69 billion, a P/E ratio of -65.00 and a beta of 1.10. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.74.

Insider Activity

In related news, Director James Monroe III purchased 530,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $1.90 per share, with a total value of $1,007,000.00. Following the purchase, the director now directly owns 6,834,090 shares in the company, valued at $12,984,771. This trade represents a 8.41 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, VP Timothy Evan Taylor sold 3,500,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $2.22, for a total value of $7,770,000.00. Following the completion of the transaction, the vice president now directly owns 6,383,649 shares in the company, valued at approximately $14,171,700.78. This trade represents a 35.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,666,312 shares of company stock valued at $8,104,313 in the last 90 days. 61.00% of the stock is owned by company insiders.

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.