Inspire Investing LLC increased its holdings in Globalstar, Inc. (NYSE:GSAT – Free Report) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,479 shares of the company’s stock after buying an additional 14,862 shares during the period. Inspire Investing LLC’s holdings in Globalstar were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in Globalstar in the first quarter valued at approximately $26,000. Grant Street Asset Management Inc. bought a new position in Globalstar in the first quarter valued at approximately $29,000. PFG Investments LLC grew its stake in shares of Globalstar by 83.3% during the second quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after buying an additional 10,000 shares during the last quarter. Second Line Capital LLC bought a new stake in shares of Globalstar during the first quarter worth $34,000. Finally, XTX Topco Ltd bought a new stake in shares of Globalstar during the second quarter worth $31,000. 18.89% of the stock is owned by institutional investors.
Globalstar Stock Performance
NYSE GSAT opened at $1.21 on Thursday. The firm’s fifty day moving average price is $1.20 and its two-hundred day moving average price is $1.23. The stock has a market cap of $2.30 billion, a PE ratio of -60.50 and a beta of 0.85. Globalstar, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $2.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04.
Insiders Place Their Bets
In other news, 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 transaction of $481,900.00. Following the transaction, the vice president now owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 transaction of $481,900.00. Following the transaction, the vice president now owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Clary sold 75,000 shares of Globalstar stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total transaction of $93,750.00. Following the transaction, the chief financial officer now owns 1,418,745 shares in the company, valued at approximately $1,773,431.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 61.00% of the company’s stock.
About Globalstar
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.
See Also
- Five stocks we like better than Globalstar
- What is an Earnings Surprise?
- Taiwan Semiconductor Stock: Buy Now or Wait for Earnings?
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Abbott’s Growth and Dividends Make It a Smart Portfolio Pick
- ETF Screener: Uses and Step-by-Step Guide
- Citigroup Faces Growing Troubles: Could the Industry Be at Risk?
Receive News & Ratings for Globalstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar and related companies with MarketBeat.com's FREE daily email newsletter.