James Monroe III Buys 500,000 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSATGet Free Report) Director James Monroe III bought 500,000 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were acquired at an average price of $2.10 per share, with a total value of $1,050,000.00. Following the transaction, the director now directly owns 11,334,090 shares in the company, valued at approximately $23,801,589. The trade was a 4.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

James Monroe III also recently made the following trade(s):

  • On Monday, December 23rd, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was bought at an average cost of $1.93 per share, with a total value of $965,000.00.
  • On Friday, December 20th, James Monroe III bought 500,000 shares of Globalstar stock. The stock was purchased at an average price of $1.97 per share, for a total transaction of $985,000.00.
  • On Wednesday, December 18th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $1,000,000.00.
  • On Monday, December 16th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were acquired at an average price of $1.96 per share, for a total transaction of $980,000.00.
  • On Friday, December 13th, James Monroe III purchased 530,000 shares of Globalstar stock. The stock was bought at an average cost of $1.90 per share, for a total transaction of $1,007,000.00.

Globalstar Price Performance

GSAT stock traded down $0.11 during mid-day trading on Monday, reaching $2.04. The company had a trading volume of 6,673,167 shares, compared to its average volume of 8,115,373. The company has a market capitalization of $3.86 billion, a P/E ratio of -68.00 and a beta of 1.10. Globalstar, Inc. has a 52 week low of $1.00 and a 52 week high of $2.74. The stock’s 50 day moving average is $2.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Institutional Investors Weigh In On Globalstar

A number of large investors have recently added to or reduced their stakes in GSAT. JPMorgan Chase & Co. grew its stake in Globalstar by 36.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock valued at $2,811,000 after buying an additional 603,285 shares during the last quarter. Barclays PLC grew its position in shares of Globalstar by 36.6% in the third quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after purchasing an additional 340,476 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Globalstar by 2.3% during the third quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock worth $20,852,000 after purchasing an additional 382,288 shares during the period. Sender Co & Partners Inc. acquired a new stake in Globalstar during the 3rd quarter worth approximately $106,000. Finally, XTX Topco Ltd boosted its stake in Globalstar by 3,472.7% in 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 during the period. Institutional investors own 18.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Get Our Latest Stock Analysis on Globalstar

About Globalstar

(Get Free Report)

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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Insider Buying and Selling by Quarter for Globalstar (NYSE:GSAT)

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