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

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III purchased 500,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $2.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director now directly owns 8,834,090 shares in the company, valued at approximately $17,668,180. This represents a 6.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Globalstar Trading Up 3.7 %

Shares of NYSE GSAT opened at $1.95 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The company has a 50-day simple moving average of $1.95. Globalstar, Inc. has a 52 week low of $1.00 and a 52 week high of $2.74. The firm has a market cap of $3.69 billion, a PE ratio of -65.00 and a beta of 1.10.

Institutional Trading of Globalstar

Several institutional investors and hedge funds have recently modified their holdings of GSAT. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Globalstar in the third quarter valued at $56,000. BNP Paribas Financial Markets grew its position in shares of Globalstar by 26.4% in the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 shares during the period. Sender Co & Partners Inc. acquired a new position in Globalstar in the third quarter valued at $106,000. Point72 Asia Singapore Pte. Ltd. lifted its position in Globalstar by 1,000.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock worth $161,000 after buying an additional 117,864 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Globalstar by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after buying an additional 196,644 shares during the period. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note 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.