Swiss National Bank reduced its position in Globalstar, Inc. (NYSE:GSAT – Free Report) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,448,854 shares of the company’s stock after selling 145,300 shares during the period. Swiss National Bank owned approximately 0.08% of Globalstar worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Globalstar by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock worth $90,642,000 after acquiring an additional 418,008 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Globalstar by 1,099.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 153,830 shares of the company’s stock valued at $202,000 after purchasing an additional 141,000 shares in the last quarter. Pure Financial Advisors LLC bought a new stake in Globalstar during the fourth quarter valued at about $97,000. EP Wealth Advisors LLC increased its position in Globalstar by 141.3% in the third quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock worth $53,000 after buying an additional 23,748 shares in the last quarter. Finally, FMR LLC increased its position in Globalstar by 0.3% in the third quarter. FMR LLC now owns 3,375,719 shares of the company’s stock worth $4,422,000 after buying an additional 10,491 shares in the last quarter. Institutional investors own 18.89% of the company’s stock.
Globalstar Stock Performance
Shares of NYSE GSAT opened at $1.14 on Thursday. The stock has a market cap of $2.17 billion, a PE ratio of -57.00 and a beta of 0.85. Globalstar, Inc. has a 1 year low of $0.96 and a 1 year high of $2.13. The firm has a fifty day moving average price of $1.25 and a 200-day moving average price of $1.38. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.00 and a quick ratio of 0.90.
Insider Activity at Globalstar
In other Globalstar news, Director James F. Lynch purchased 660,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was acquired at an average cost of $1.31 per share, for a total transaction of $864,600.00. Following the purchase, the director now directly owns 9,700,720 shares of the company’s stock, valued at approximately $12,707,943.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 1,980,000 shares of company stock valued at $2,765,400. 61.00% of the stock is owned by company insiders.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Globalstar from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th.
Read Our Latest Research Report on GSAT
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.
See Also
- Five stocks we like better than Globalstar
- Russell 2000 Index, How Investors Use it For Profitable Trading
- TJX Companies Can Hit New Highs; Double-Digit Upside to Follow
- How to Buy Cheap Stocks Step by Step
- A Hidden Gem Retailer With 20% Upside
- Compound Interest and Why It Matters When Investing
- Zoom Stock’s Earnings Volatility Picked Up a Lot of Buyers
Want to see what other hedge funds are holding GSAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globalstar, Inc. (NYSE:GSAT – Free Report).
Receive News & Ratings for Globalstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar and related companies with MarketBeat.com's FREE daily email newsletter.