IRON Financial LLC Acquires Shares of 14,000 Globalstar, Inc. (NYSEARCA:GSAT)

IRON Financial LLC acquired a new position in shares of Globalstar, Inc. (NYSEARCA:GSAT) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,000 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd increased its stake in shares of Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after buying an additional 949,025 shares during the last quarter. FMR LLC increased its position in shares of Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after purchasing an additional 1,102,776 shares during the last quarter. Barclays PLC raised its stake in shares of Globalstar by 36.6% in the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after purchasing an additional 340,476 shares in the last quarter. State Street Corp lifted its position in shares of Globalstar by 3.4% during the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Globalstar by 36.3% in the third quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock worth $2,811,000 after purchasing an additional 603,285 shares in the last quarter. 18.89% of the stock is owned by institutional investors and hedge funds.

Globalstar Price Performance

NYSEARCA GSAT opened at $1.82 on Tuesday. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.74. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -60.67 and a beta of 1.07. The company’s 50 day moving average is $1.99. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91.

Insider Buying and Selling at Globalstar

In related news, CEO Paul E. Jacobs sold 14,539 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $2.19, for a total transaction of $31,840.41. Following the completion of the sale, the chief executive officer now directly owns 84,815 shares in the company, valued at approximately $185,744.85. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total value of $173,700.00. Following the completion of the transaction, the director now directly owns 848,668 shares in the company, valued at $1,637,929.24. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,030,000 shares of company stock valued at $5,987,000 and sold 3,680,851 shares valued at $8,136,154. 60.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on GSAT. Craig Hallum lifted their target price on Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

About Globalstar

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.