Globalstar, Inc. (NYSE:GSAT) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 20.2% during the third quarter, HoldingsChannel reports. The firm owned 33,193 shares of the company’s stock after selling 8,422 shares during the quarter. Stifel Financial Corp’s holdings in Globalstar were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Globalstar in the 3rd quarter worth approximately $56,000. BNP Paribas Financial Markets boosted its holdings in shares of Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after acquiring an additional 68,599 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Globalstar by 1,000.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after acquiring an additional 117,864 shares during the last quarter. 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 worth $7,671,000 after acquiring an additional 196,644 shares during the period. Finally, FMR LLC raised its holdings in shares of Globalstar by 32.7% during the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after purchasing an additional 1,102,776 shares during the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Globalstar Stock Up 0.9 %

Globalstar stock opened at $2.17 on Tuesday. The business’s 50-day moving average is $2.01. 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 capitalization of $4.11 billion, a price-to-earnings ratio of -72.33 and a beta of 1.10. Globalstar, Inc. has a 52 week low of $1.00 and a 52 week high of $2.74.

Insiders Place Their Bets

In other Globalstar news, Director James Monroe III acquired 530,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $1.90 per share, for a total transaction of $1,007,000.00. Following the completion of the transaction, the director now directly owns 6,834,090 shares of the company’s stock, valued at $12,984,771. This represents a 8.41 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Timothy Evan Taylor sold 3,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $2.22, for a total value of $7,770,000.00. Following the transaction, the vice president now directly owns 6,383,649 shares of the company’s stock, valued at approximately $14,171,700.78. The trade was a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 3,030,000 shares of company stock worth $5,987,000 and have sold 3,666,312 shares worth $8,104,313. Insiders own 61.00% of the company’s stock.

Globalstar 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.