GSA Capital Partners LLP Sells 19,293 Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT)

GSA Capital Partners LLP trimmed its holdings in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 5.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 326,230 shares of the company’s stock after selling 19,293 shares during the quarter. GSA Capital Partners LLP’s holdings in Globalstar were worth $405,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GSAT. American International Group Inc. boosted its position in Globalstar by 2.5% during the 1st quarter. American International Group Inc. now owns 357,070 shares of the company’s stock valued at $525,000 after buying an additional 8,706 shares during the period. PFG Investments LLC raised its holdings in Globalstar by 83.3% in the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after purchasing an additional 10,000 shares in the last quarter. ProShare Advisors LLC raised its holdings in Globalstar by 12.2% in the 1st quarter. ProShare Advisors LLC now owns 130,174 shares of the company’s stock worth $191,000 after purchasing an additional 14,166 shares in the last quarter. Inspire Investing LLC raised its holdings in Globalstar by 4.7% in the 3rd quarter. Inspire Investing LLC now owns 333,479 shares of the company’s stock worth $414,000 after purchasing an additional 14,862 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in Globalstar by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 1,165,930 shares of the company’s stock worth $1,306,000 after purchasing an additional 18,943 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Globalstar Price Performance

NYSEAMERICAN GSAT opened at $1.78 on Friday. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.13. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -59.33 and a beta of 0.88. The company’s 50 day moving average is $1.25 and its two-hundred day moving average is $1.24. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94.

Insider Activity

In other Globalstar 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 completion of the transaction, 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 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rebecca Clary sold 75,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total transaction of $93,750.00. Following 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 5.02 % 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.

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.