Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III Purchases 25,000 Shares

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III acquired 25,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $21.83 per share, for a total transaction of $545,750.00. Following the completion of the purchase, the director now directly owns 897,273 shares of the company’s stock, valued at approximately $19,587,469.59. The trade was a 2.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 bought at an average price of $20.80 per share, for a total transaction of $520,000.00.
• On Thursday, December 26th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were bought at an average price of $2.10 per share, for a total transaction of $1,050,000.00.
• On Monday, December 23rd, James Monroe III bought 500,000 shares of Globalstar stock. The shares were bought at an average price of $1.93 per share, for a total transaction of $965,000.00.
• On Friday, December 20th, James Monroe III bought 500,000 shares of Globalstar stock. The shares were bought at an average price of $1.97 per share, for a total transaction of $985,000.00.

Globalstar Trading Down 0.4 %

Shares of GSAT stock traded down $0.08 during trading hours on Thursday, hitting $21.62. 531,913 shares of the company were exchanged, compared to its average volume of 674,140. The company has a 50 day moving average of $12.61. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 52 week low of $15.00 and a 52 week high of $41.10. The stock has a market cap of $40.95 billion, a P/E ratio of -720.67 and a beta of 1.07.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GSAT. B. Riley upped their target price on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley increased their price objective 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. Finally, Craig Hallum cut their price objective 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.

Institutional Investors Weigh In On Globalstar

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd increased its position in shares of Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after acquiring an additional 949,025 shares in the last quarter. FMR LLC grew its position in Globalstar by 32.7% in the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after purchasing an additional 1,102,776 shares in the last quarter. Barclays PLC grew its position in Globalstar by 36.6% in the third 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 grew its position in Globalstar by 3.4% in the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock valued at $21,804,000 after purchasing an additional 580,305 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Globalstar by 36.3% in the third quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock valued at $2,811,000 after purchasing an additional 603,285 shares in the last quarter. Institutional investors own 18.89% of the company’s stock.

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.