Globalstar, Inc. (NYSEARCA:GSAT) CEO Paul E. Jacobs Sells 7,087 Shares

Globalstar, Inc. (NYSEARCA:GSAT) CEO Paul E. Jacobs sold 7,087 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $22.15, for a total value of $156,977.05. Following the transaction, the chief executive officer now owns 12,374 shares in the company, valued at $274,084.10. This represents a 36.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Globalstar Price Performance

Shares of Globalstar stock opened at $22.16 on Thursday. The firm’s 50 day moving average price is $10.69. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $41.10. The firm has a market capitalization of $41.98 billion, a PE ratio of -738.67 and a beta of 1.07. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Craig Hallum reduced their target price on Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th. Morgan Stanley increased their target price on Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, B. Riley increased their target price on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Institutional Investors Weigh In On Globalstar

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its holdings in shares of Globalstar by 4.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,912 shares of the company’s stock valued at $43,000 after purchasing an additional 900 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Globalstar by 8.7% in the fourth quarter. Stifel Financial Corp now owns 36,087 shares of the company’s stock valued at $75,000 after purchasing an additional 2,894 shares during the last quarter. Mariner LLC increased its stake in Globalstar by 30.9% during the fourth quarter. Mariner LLC now owns 14,007 shares of the company’s stock worth $29,000 after acquiring an additional 3,307 shares during the last quarter. Legal & General Group Plc increased its stake in Globalstar by 0.8% during the fourth quarter. Legal & General Group Plc now owns 854,923 shares of the company’s stock worth $1,770,000 after acquiring an additional 7,132 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Globalstar by 48.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,830 shares of the company’s stock worth $47,000 after acquiring an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Company Profile

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.