SG Americas Securities LLC Decreases Stock Holdings in Globalstar, Inc. (NYSE:GSAT)

SG Americas Securities LLC lowered its holdings in Globalstar, Inc. (NYSE:GSAT) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,726 shares of the company’s stock after selling 8,075 shares during the period. SG Americas Securities LLC’s holdings in Globalstar were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Pure Financial Advisors LLC bought a new stake in shares of Globalstar during the 4th quarter worth $97,000. Vanguard Group Inc. increased its holdings in Globalstar by 0.6% during the third quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock worth $90,642,000 after buying an additional 418,008 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Globalstar by 1,099.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 153,830 shares of the company’s stock worth $202,000 after acquiring an additional 141,000 shares during the period. Deutsche Bank AG boosted its stake in Globalstar by 14.1% in the third quarter. Deutsche Bank AG now owns 382,670 shares of the company’s stock valued at $501,000 after acquiring an additional 47,216 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Globalstar by 141.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock valued at $53,000 after acquiring an additional 23,748 shares during the period. Institutional investors own 18.89% of the company’s stock.

Globalstar Stock Performance

GSAT stock opened at $1.27 on Monday. The business’s fifty day moving average price is $1.35. Globalstar, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $2.13. The company has a market cap of $2.39 billion, a P/E ratio of -127.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.81 and a quick ratio of 0.73.

Globalstar (NYSE:GSAT) last issued its earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $52.41 million for the quarter, compared to the consensus estimate of $53.06 million. Globalstar had a negative return on equity of 6.43% and a negative net margin of 14.61%. Equities analysts predict that Globalstar, Inc. will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Globalstar from a “hold” rating to a “sell” rating in a report on Thursday, February 29th.

Insider Buying and Selling

In other Globalstar news, Director James F. Lynch bought 660,000 shares of the stock in a transaction on Monday, March 11th. The shares were acquired at an average price of $1.42 per share, with a total value of $937,200.00. Following the acquisition, the director now directly owns 11,020,720 shares of the company’s stock, valued at approximately $15,649,422.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last ninety days, insiders acquired 1,980,000 shares of company stock valued at $2,765,400. Company insiders own 62.00% of the company’s stock.

About Globalstar

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.