Globalstar, Inc. (NYSE:GSAT) Director James Monroe III Purchases 500,000 Shares

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III bought 500,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $1.93 per share, for a total transaction of $965,000.00. Following the transaction, the director now directly owns 10,334,090 shares in the company, valued at approximately $19,944,793.70. This trade represents a 5.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, December 20th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were acquired at an average price of $1.97 per share, for a total transaction of $985,000.00.
• On Wednesday, December 18th, James Monroe III acquired 500,000 shares of Globalstar stock. The stock was acquired at an average cost of $2.00 per share, with a total value of $1,000,000.00.
• On Monday, December 16th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were bought at an average cost of $1.96 per share, for a total transaction of $980,000.00.
• On Friday, December 13th, James Monroe III purchased 530,000 shares of Globalstar stock. The stock was bought at an average cost of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Stock Up 3.3 %

Shares of Globalstar stock traded up $0.07 on Thursday, reaching $2.04. The stock had a trading volume of 3,581,282 shares, compared to its average volume of 8,017,312. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The stock has a market cap of $3.85 billion, a PE ratio of -67.83 and a beta of 1.10. The firm’s 50 day moving average price is $1.97. Globalstar, Inc. has a 1 year low of $1.00 and a 1 year high of $2.74.

Hedge Funds Weigh In On Globalstar

A number of large investors have recently made changes to their positions in GSAT. Dynamic Technology Lab Private Ltd purchased a new stake in Globalstar during the 3rd quarter worth approximately $56,000. Sender Co & Partners Inc. purchased a new position in Globalstar in the 3rd quarter worth $106,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Globalstar by 1,000.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after purchasing an additional 117,864 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Globalstar by 26.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of 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. 18.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.