James Monroe III Buys 500,000 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III acquired 500,000 shares of Globalstar stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $1.97 per share, for a total transaction of $985,000.00. Following the completion of the acquisition, the director now owns 9,834,090 shares in the company, valued at $19,373,157.30. This trade represents a 5.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

James Monroe III also recently made the following trade(s):

• On Wednesday, December 18th, James Monroe III purchased 500,000 shares of Globalstar stock. The shares were bought at an average price of $2.00 per share, with a total value of $1,000,000.00.
• On Monday, December 16th, James Monroe III acquired 500,000 shares of Globalstar stock. The stock was bought at an average price of $1.96 per share, for a total transaction of $980,000.00.
• On Friday, December 13th, James Monroe III bought 530,000 shares of Globalstar stock. The stock was bought at an average price of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Price Performance

Shares of NYSE:GSAT opened at $1.97 on Wednesday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -65.67 and a beta of 1.10. Globalstar, Inc. has a 1 year low of $1.00 and a 1 year high of $2.74. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The stock’s 50-day simple moving average is $1.96.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Institutional Investors Weigh In On Globalstar

Several large investors have recently added to or reduced their stakes in GSAT. FMR LLC boosted its position in Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after buying an additional 1,102,776 shares during the period. XTX Topco Ltd boosted its holdings in Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after purchasing an additional 949,025 shares during the period. State Street Corp grew its stake in Globalstar by 3.4% during the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares in the last quarter. Geode Capital Management LLC increased its holdings in Globalstar by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock worth $20,852,000 after purchasing an additional 382,288 shares during the period. Finally, Barclays PLC raised its position in Globalstar by 36.6% in the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after purchasing an additional 340,476 shares in the last quarter. 18.89% of the stock is owned by hedge funds and other institutional investors.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.