EP Wealth Advisors LLC Purchases Shares of 40,550 Globalstar, Inc. (NYSEAMERICAN:GSAT)

EP Wealth Advisors LLC purchased a new stake in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT – Get Rating) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 40,550 shares of the Wireless communications provider’s stock, valued at approximately $64,000.

Several other institutional investors have also added to or reduced their stakes in the company. Telemetry Investments L.L.C. boosted its position in Globalstar by 43.9% during the 3rd quarter. Telemetry Investments L.L.C. now owns 205,000 shares of the Wireless communications provider’s stock valued at $326,000 after buying an additional 62,500 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in Globalstar by 59.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 267,434 shares of the Wireless communications provider’s stock worth $425,000 after purchasing an additional 100,220 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Globalstar in the 3rd quarter worth $73,000. State Street Corp raised its holdings in Globalstar by 1.0% in the 3rd quarter. State Street Corp now owns 14,377,806 shares of the Wireless communications provider’s stock worth $22,861,000 after purchasing an additional 145,816 shares in the last quarter. Finally, Algert Global LLC raised its holdings in Globalstar by 67.7% in the 3rd quarter. Algert Global LLC now owns 159,167 shares of the Wireless communications provider’s stock worth $253,000 after purchasing an additional 64,258 shares in the last quarter. Hedge funds and other institutional investors own 18.13% of the company’s stock.

Globalstar Trading Up 9.6 %

Shares of NYSEAMERICAN GSAT opened at $1.14 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.45 and a debt-to-equity ratio of 1.93. Globalstar, Inc. has a 12 month low of $0.99 and a 12 month high of $2.98. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -7.43 and a beta of 0.68. The stock has a fifty day moving average of $1.68.

Insiders Place Their Bets

In other Globalstar news, CFO Rebecca Clary sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $1.17, for a total value of $117,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,774,707 shares in the company, valued at approximately $2,076,407.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 62.20% of the company’s stock.

Globalstar Profile

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Globalstar, Inc engages in the provision of mobile satellite services. It offers voice and data communications services to the following markets: recreation and personal, government, public safety and disaster relief, oil and gas, maritime and fishing, natural resources, mining, and forestry, construction, utilities, and transportation.