Alpine Group USVI LLC acquired a new position in Globalstar, Inc. (NYSEAMERICAN:GSAT) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,698,530 shares of the Wireless communications provider’s stock, valued at approximately $703,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Intellectus Partners LLC acquired a new position in shares of Globalstar in the third quarter worth about $39,000. Water Island Capital LLC boosted its holdings in shares of Globalstar by 29.3% in the second quarter. Water Island Capital LLC now owns 362,000 shares of the Wireless communications provider’s stock worth $174,000 after buying an additional 82,000 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Globalstar by 32.7% in the second quarter. UBS Asset Management Americas Inc. now owns 384,804 shares of the Wireless communications provider’s stock worth $185,000 after buying an additional 94,909 shares during the period. Jane Street Group LLC acquired a new position in shares of Globalstar in the second quarter worth about $62,000. Finally, Silvercrest Asset Management Group LLC acquired a new position in shares of Globalstar in the second quarter worth about $46,000.
Shares of GSAT traded down $0.01 during midday trading on Friday, hitting $0.34. The stock had a trading volume of 894,432 shares, compared to its average volume of 1,817,939. Globalstar, Inc. has a fifty-two week low of $0.29 and a fifty-two week high of $0.73.
Separately, Zacks Investment Research upgraded shares of Globalstar from a “hold” rating to a “strong-buy” rating and set a $0.50 target price for the company in a report on Thursday, October 3rd.
Globalstar Company Profile
Globalstar, Inc provides mobile satellite services, voice and data communications services through satellite worldwide. It offers communications services via satellite which includes: two-way voice communication and data transmissions using mobile or fixed devices; and one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station.
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