Insider Buying: Globalstar, Inc. (NYSEAMERICAN:GSAT) Director Purchases 100,000 Shares of Stock

Globalstar, Inc. (NYSEAMERICAN:GSATGet Rating) Director James Monroe III acquired 100,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were bought at an average cost of $1.83 per share, for a total transaction of $183,000.00. Following the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $183,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Globalstar Trading Down 0.5 %

GSAT stock opened at $1.83 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.78. Globalstar, Inc. has a twelve month low of $0.90 and a twelve month high of $2.98. The business’s 50 day moving average is $1.59. The firm has a market capitalization of $3.30 billion, a PE ratio of -36.60 and a beta of 0.26.

Globalstar (NYSEAMERICAN:GSATGet Rating) last announced its earnings results on Thursday, August 4th. The Wireless communications provider reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $36.80 million for the quarter, compared to analyst estimates of $29.71 million. Globalstar had a negative net margin of 74.68% and a negative return on equity of 28.57%. On average, equities research analysts predict that Globalstar, Inc. will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Globalstar

Hedge funds have recently modified their holdings of the business. Xponance Inc. boosted its position in shares of Globalstar by 27.0% during the 2nd quarter. Xponance Inc. now owns 36,780 shares of the Wireless communications provider’s stock worth $45,000 after purchasing an additional 7,826 shares in the last quarter. HighMark Wealth Management LLC raised its stake in shares of Globalstar by 4.8% during the 2nd quarter. HighMark Wealth Management LLC now owns 176,000 shares of the Wireless communications provider’s stock worth $216,000 after buying an additional 8,000 shares during the last quarter. Lake Street Financial LLC raised its stake in shares of Globalstar by 12.1% during the 2nd quarter. Lake Street Financial LLC now owns 83,958 shares of the Wireless communications provider’s stock worth $103,000 after buying an additional 9,081 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Globalstar by 27.9% during the 2nd quarter. Mackenzie Financial Corp now owns 42,524 shares of the Wireless communications provider’s stock worth $52,000 after buying an additional 9,287 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Globalstar by 13.1% during the 4th quarter. BNP Paribas Arbitrage SA now owns 130,477 shares of the Wireless communications provider’s stock worth $151,000 after buying an additional 15,090 shares during the last quarter. 18.13% of the stock is currently owned by hedge funds and other institutional investors.

About Globalstar

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Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.

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