BNP Paribas Financial Markets Has $407,000 Position in Globalstar, Inc. (NYSE:GSAT)

BNP Paribas Financial Markets boosted its holdings in Globalstar, Inc. (NYSE:GSAT) by 26.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 328,298 shares of the company’s stock after acquiring an additional 68,599 shares during the quarter. BNP Paribas Financial Markets’ holdings in Globalstar were worth $407,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in Globalstar during the 3rd quarter valued at $56,000. FMR LLC lifted its stake in Globalstar by 32.7% during the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after acquiring an additional 1,102,776 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Globalstar by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after acquiring an additional 196,644 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Insider Activity

In related news, CFO Rebecca Clary sold 37,688 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $2.13, for a total value of $80,275.44. Following the transaction, the chief financial officer now directly owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Monroe III acquired 530,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $1.90 per share, for a total transaction of $1,007,000.00. Following the completion of the transaction, the director now owns 6,834,090 shares of the company’s stock, valued at $12,984,771. The trade was a 8.41 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 3,666,312 shares of company stock worth $8,104,313 over the last ninety days. Company insiders own 61.00% of the company’s stock.

Globalstar Stock Down 2.5 %

NYSE GSAT opened at $1.95 on Friday. The stock has a market capitalization of $3.69 billion, a P/E ratio of -65.00 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 company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The firm’s 50-day simple moving average is $1.92.

Analyst Upgrades and Downgrades

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

Globalstar Profile

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.