Globalstar, Inc. (NYSE:GSAT - Get Free Report) Director James Monroe III bought 500,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of $2.00 per share, for a total transaction of $1,000,000.00. Following the completion of the acquisition, the director now owns 8,834,090 shares of the company's stock, valued at $17,668,180. The trade was a 6.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
James Monroe III also recently made the following trade(s):
- On Monday, December 16th, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was 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 bought 530,000 shares of Globalstar stock. The shares were acquired at an average price of $1.90 per share, for a total transaction of $1,007,000.00.
Globalstar Stock Performance
Shares of GSAT stock traded up $0.06 during mid-day trading on Thursday, hitting $1.91. The company's stock had a trading volume of 3,041,074 shares, compared to its average volume of 7,970,367. The stock's fifty day simple moving average is $1.94. Globalstar, Inc. has a 52 week low of $1.00 and a 52 week high of $2.74. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The company has a market cap of $3.61 billion, a P/E ratio of -63.67 and a beta of 1.10.
Hedge Funds Weigh In On Globalstar
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Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd boosted its stake in shares of Globalstar by 3,472.7% during the 3rd 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 in the last quarter. FMR LLC grew its stake in shares of Globalstar by 32.7% in the third quarter. FMR LLC now owns 4,473,492 shares of the company's stock worth $5,547,000 after acquiring an additional 1,102,776 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Globalstar by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company's stock worth $7,671,000 after buying an additional 196,644 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company's stock valued at $407,000 after acquiring an additional 68,599 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Globalstar during the third quarter valued at $56,000. 18.89% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Globalstar from a "sell" rating to a "hold" rating in a research report on Monday, November 11th.
Get Our Latest Stock Analysis on GSAT
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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