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

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III acquired 500,000 shares of the stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $1.96 per share, for a total transaction of $980,000.00. Following the purchase, the director now directly owns 7,834,090 shares of the company’s stock, valued at $15,354,816.40. The trade was a 6.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, December 13th, James Monroe III bought 530,000 shares of Globalstar stock. The stock was acquired at an average price of $1.90 per share, for a total transaction of $1,007,000.00.

Globalstar Stock Performance

Shares of GSAT stock opened at $1.90 on Wednesday. The firm has a market capitalization of $3.60 billion, a PE ratio of -63.33 and a beta of 1.10. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The company has a 50 day simple moving average of $1.94.

Analyst Upgrades and Downgrades

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

Institutional Trading of Globalstar

Large investors have recently modified their holdings of the stock. Barclays PLC grew its stake in Globalstar by 36.6% during the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock worth $1,575,000 after purchasing an additional 340,476 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Globalstar by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after buying an additional 382,288 shares during the period. Sender Co & Partners Inc. purchased a new stake in shares of Globalstar during the third quarter worth approximately $106,000. XTX Topco Ltd raised its holdings in Globalstar by 3,472.7% in 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. Finally, State Street Corp grew its holdings in Globalstar by 3.4% during the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after acquiring an additional 580,305 shares in the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

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.