Globalstar, Inc. (NYSEAMERICAN:GSAT) Holdings Boosted by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 34.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 452,267 shares of the company’s stock after purchasing an additional 115,359 shares during the quarter. Van ECK Associates Corp’s holdings in Globalstar were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in GSAT. Mirae Asset Global Investments Co. Ltd. lifted its position in Globalstar by 15.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 811,758 shares of the company’s stock valued at $1,193,000 after purchasing an additional 106,663 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Globalstar by 13.1% in the 1st quarter. BNP Paribas Financial Markets now owns 586,606 shares of the company’s stock worth $862,000 after buying an additional 67,800 shares in the last quarter. Empowered Funds LLC acquired a new stake in Globalstar in the 1st quarter valued at approximately $26,000. SG Americas Securities LLC raised its stake in Globalstar by 126.2% during the 1st quarter. SG Americas Securities LLC now owns 46,890 shares of the company’s stock valued at $69,000 after acquiring an additional 26,164 shares in the last quarter. Finally, Swiss National Bank boosted its position in Globalstar by 3.6% during the 1st quarter. Swiss National Bank now owns 1,500,554 shares of the company’s stock worth $2,206,000 after acquiring an additional 51,700 shares during the period. Institutional investors own 18.89% of the company’s stock.

Insider Buying and Selling at Globalstar

In other Globalstar news, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Timothy Evan Taylor sold 395,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $12,539,951.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rebecca Clary sold 75,000 shares of the business’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 transaction of $93,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 61.00% of the company’s stock.

Globalstar Stock Down 6.5 %

GSAT stock opened at $1.88 on Wednesday. The company’s 50 day simple moving average is $1.25 and its 200-day simple moving average is $1.24. Globalstar, Inc. has a 52-week low of $1.00 and a 52-week high of $2.13. 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 $3.57 billion, a P/E ratio of -67.17 and a beta of 0.88.

Analyst Upgrades and Downgrades

Separately, Craig Hallum increased their price objective on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, November 4th.

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.