Algert Global LLC Purchases New Position in Globalstar, Inc. (NYSE:GSAT)

Algert Global LLC acquired a new position in Globalstar, Inc. (NYSE:GSAT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 76,416 shares of the company’s stock, valued at approximately $86,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Globalstar by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock valued at $139,175,000 after acquiring an additional 2,547,398 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Globalstar by 154.9% in the 2nd quarter. CIBC Asset Management Inc now owns 53,535 shares of the company’s stock worth $60,000 after purchasing an additional 32,535 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Globalstar by 12.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,791,176 shares of the company’s stock worth $3,126,000 after purchasing an additional 307,357 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Globalstar by 8.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 697,461 shares of the company’s stock valued at $1,026,000 after purchasing an additional 55,368 shares in the last quarter. Finally, Inspire Investing LLC increased its position in shares of Globalstar by 28.2% during the second quarter. Inspire Investing LLC now owns 318,617 shares of the company’s stock valued at $357,000 after buying an additional 70,179 shares during the period. 18.89% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total value of $93,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,418,745 shares in the company, valued at $1,773,431.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Rebecca Clary sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total value of $93,750.00. Following the sale, the chief financial officer now owns 1,418,745 shares in the company, valued at $1,773,431.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Timothy Evan Taylor sold 395,000 shares of Globalstar stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $1.22, for a total value of $481,900.00. Following the transaction, the vice president now owns 10,278,649 shares of the company’s stock, valued at $12,539,951.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 61.00% of the company’s stock.

Globalstar Stock Performance

Shares of GSAT opened at $1.20 on Friday. The company has a 50-day simple moving average of $1.20 and a two-hundred day simple moving average of $1.23. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The firm has a market capitalization of $2.28 billion, a PE ratio of -60.00 and a beta of 0.85. Globalstar, Inc. has a one year low of $1.01 and a one year high of $2.13.

Globalstar (NYSE:GSAT) last announced its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $60.39 million during the quarter, compared to analyst estimates of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. On average, analysts anticipate that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.

Globalstar Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.