Globalstar, Inc. (NYSE:GSAT - Get Free Report) Director James Monroe III acquired 500,000 shares of the business's stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $1.96 per share, with a total value of $980,000.00. Following the transaction, the director now owns 7,834,090 shares of the company's stock, valued at approximately $15,354,816.40. The trade was a 6.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
James Monroe III also recently made the following trade(s):
- On Friday, December 13th, James Monroe III bought 530,000 shares of Globalstar stock. The stock was purchased at an average cost of $1.90 per share, with a total value of $1,007,000.00.
Globalstar Stock Performance
NYSE:GSAT remained flat at $1.95 during mid-day trading on Monday. The company's stock had a trading volume of 13,586,712 shares, compared to its average volume of 7,908,471. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The firm has a market capitalization of $3.69 billion, a P/E ratio of -65.00 and a beta of 1.10. The business's fifty day simple moving average is $1.92. Globalstar, Inc. has a 12-month low of $1.00 and a 12-month high of $2.74.
Institutional Investors Weigh In On Globalstar
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Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of 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 purchasing an additional 1,102,776 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Globalstar by 3,472.7% in the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company's stock worth $1,211,000 after purchasing an additional 949,025 shares during the period. State Street Corp grew its holdings in shares of 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 during the period. Geode Capital Management LLC grew its holdings in shares of 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 increased its position in Globalstar by 36.6% during the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company's stock worth $1,575,000 after purchasing an additional 340,476 shares in the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Globalstar from a "sell" rating to a "hold" rating in a research note on Monday, November 11th.
Read Our Latest Stock Analysis on Globalstar
About Globalstar
(
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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.
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