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

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 500,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $1.93 per share, for a total transaction of $965,000.00. Following the acquisition, the director now owns 10,334,090 shares in the company, valued at $19,944,793.70. The trade was a 5.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Globalstar Trading Up 0.9 %

NYSE:GSAT opened at $2.15 on Friday. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.74. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -71.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The company’s fifty day simple moving average is $2.00.

Institutional Investors Weigh In On Globalstar

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Globalstar by 36.3% during the third quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock worth $2,811,000 after purchasing an additional 603,285 shares in the last quarter. Barclays PLC lifted its holdings in Globalstar by 36.6% in the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock worth $1,575,000 after buying an additional 340,476 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Globalstar by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock worth $20,852,000 after buying an additional 382,288 shares in the last quarter. Sender Co & Partners Inc. purchased a new position in Globalstar in the 3rd quarter valued at about $106,000. Finally, XTX Topco Ltd grew its stake in shares of Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after acquiring an additional 949,025 shares in the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

Globalstar Company 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.