James Monroe III Acquires 25,000 Shares of Globalstar, Inc. (NYSEARCA:GSAT) Stock

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III bought 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $21.83 per share, with a total value of $545,750.00. Following the completion of the transaction, the director now directly owns 897,273 shares of the company’s stock, valued at $19,587,469.59. This trade represents a 2.87 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, March 18th, James Monroe III bought 25,000 shares of Globalstar stock. The shares were acquired at an average price of $20.80 per share, with a total value of $520,000.00.
• On Thursday, December 26th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were acquired at an average price of $2.10 per share, with a total value of $1,050,000.00.
• On Monday, December 23rd, James Monroe III bought 500,000 shares of Globalstar stock. The shares were acquired at an average price 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 shares were acquired at an average price of $1.97 per share, with a total value of $985,000.00.

Globalstar Price Performance

Shares of NYSEARCA:GSAT opened at $21.97 on Friday. Globalstar, Inc. has a 1-year low of $15.00 and a 1-year high of $41.10. The firm’s 50 day moving average price is $13.40. 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 stock has a market capitalization of $41.62 billion, a P/E ratio of -732.33 and a beta of 1.07.

Hedge Funds Weigh In On Globalstar

Several hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Globalstar by 1.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 251,887 shares of the company’s stock worth $521,000 after buying an additional 4,545 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Globalstar in the fourth quarter worth $33,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Globalstar by 48.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,830 shares of the company’s stock worth $47,000 after buying an additional 7,500 shares in the last quarter. Ashford Capital Management Inc. lifted its holdings in shares of Globalstar by 68.9% in the fourth quarter. Ashford Capital Management Inc. now owns 12,369,340 shares of the company’s stock worth $25,605,000 after buying an additional 5,047,600 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Globalstar by 15.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,569,896 shares of the company’s stock worth $3,250,000 after purchasing an additional 211,803 shares during the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GSAT. Craig Hallum lowered their price target on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. B. Riley lifted their price target on shares of Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley lifted their price target on shares of Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th.

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.