Globalstar, Inc. (NYSE:GSAT) Director James Monroe III Acquires 500,000 Shares of Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III acquired 500,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $2.10 per share, with a total value of $1,050,000.00. Following the transaction, the director now owns 11,334,090 shares in the company, valued at $23,801,589. The trade was a 4.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

James Monroe III also recently made the following trade(s):

• On Monday, December 23rd, James Monroe III purchased 500,000 shares of Globalstar stock. The shares were purchased at an average cost of $1.93 per share, with a total value of $965,000.00.
• On Friday, December 20th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were acquired at an average cost of $1.97 per share, for a total transaction of $985,000.00.
• On Wednesday, December 18th, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was bought at an average price of $2.00 per share, with a total value of $1,000,000.00.
• On Monday, December 16th, James Monroe III acquired 500,000 shares of Globalstar stock. The stock was purchased at an average cost of $1.96 per share, with a total value of $980,000.00.
• On Friday, December 13th, James Monroe III acquired 530,000 shares of Globalstar stock. The stock was acquired at an average cost of $1.90 per share, for a total transaction of $1,007,000.00.

Globalstar Stock Down 5.1 %

Shares of NYSE:GSAT traded down $0.11 during midday trading on Monday, reaching $2.04. The company’s stock had a trading volume of 6,673,167 shares, compared to its average volume of 8,115,373. The company’s 50 day moving average is $2.00. Globalstar, Inc. has a 1 year low of $1.00 and a 1 year high of $2.74. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of -68.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Globalstar

A number of institutional investors have recently bought and sold shares of GSAT. FMR LLC grew its stake in shares of Globalstar by 32.7% during the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after buying an additional 1,102,776 shares during the period. XTX Topco Ltd grew its holdings in shares of Globalstar by 3,472.7% during the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after purchasing an additional 949,025 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Globalstar by 36.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock worth $2,811,000 after purchasing an additional 603,285 shares during the period. State Street Corp increased its position in Globalstar by 3.4% during the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Globalstar by 2.3% in the third quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after buying an additional 382,288 shares during the period. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

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.