SG Americas Securities LLC Buys 258,431 Shares of Globalstar, Inc. (NYSE:GSAT)

SG Americas Securities LLC lifted its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 1,405.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 276,825 shares of the company’s stock after acquiring an additional 258,431 shares during the period. SG Americas Securities LLC’s holdings in Globalstar were worth $343,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Globalstar by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock worth $139,175,000 after acquiring an additional 2,547,398 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Globalstar by 154.9% during the 2nd quarter. CIBC Asset Management Inc now owns 53,535 shares of the company’s stock worth $60,000 after acquiring an additional 32,535 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Globalstar by 12.4% during 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 acquiring an additional 307,357 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $1,026,000 after acquiring an additional 55,368 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Globalstar by 28.2% during the 2nd quarter. Inspire Investing LLC now owns 318,617 shares of the company’s stock worth $357,000 after acquiring an additional 70,179 shares during the last quarter. 18.89% of the stock is owned by institutional investors.

Globalstar Stock Performance

NYSE GSAT opened at $1.20 on Friday. Globalstar, Inc. has a 52-week low of $1.01 and a 52-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. The company has a market capitalization of $2.28 billion, a P/E ratio of -60.00 and a beta of 0.85. The company has a fifty day moving average of $1.20 and a 200-day moving average of $1.23.

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

Insiders Place Their Bets

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

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.