Globalstar, Inc. (NYSE:GSAT - Get Free Report) Director James Monroe III bought 4,510,855 shares of the company's stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $1.06 per share, with a total value of $4,781,506.30. Following the transaction, the director now owns 8,708,254 shares of the company's stock, valued at approximately $9,230,749.24. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Globalstar Stock Down 1.3 %
GSAT stock traded down $0.02 during mid-day trading on Monday, hitting $1.11. The company had a trading volume of 1,565,605 shares, compared to its average volume of 3,818,996. The firm's 50-day moving average price is $1.09. Globalstar, Inc. has a 12-month low of $1.01 and a 12-month high of $2.13. The company has a market capitalization of $2.10 billion, a P/E ratio of -55.25 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.97.
Globalstar (NYSE:GSAT - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). The company had revenue of $56.48 million for the quarter, compared to the consensus estimate of $52.92 million. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. As a group, analysts expect that Globalstar, Inc. will post -0.02 EPS for the current year.
Institutional Inflows and Outflows
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Abel Hall LLC purchased a new stake in Globalstar during the fourth quarter valued at $26,000. Empowered Funds LLC bought a new stake in shares of Globalstar in the 1st quarter worth about $26,000. Grant Street Asset Management Inc. bought a new stake in shares of Globalstar in the 1st quarter worth about $29,000. Second Line Capital LLC purchased a new stake in shares of Globalstar during the 1st quarter valued at about $34,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Globalstar in the 4th quarter valued at about $35,000. 18.89% of the stock is currently owned by institutional investors.
Globalstar Company Profile
(
Get Free Report)
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.
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