Barclays PLC Acquires 340,476 Shares of Globalstar, Inc. (NYSE:GSAT)

Barclays PLC grew its stake in Globalstar, Inc. (NYSE:GSAT - Free Report) by 36.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,270,443 shares of the company's stock after purchasing an additional 340,476 shares during the period. Barclays PLC owned about 0.07% of Globalstar worth $1,575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GSAT. XTX Topco Ltd boosted its position 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 buying an additional 949,025 shares in the last quarter. State Street Corp boosted its holdings in shares of Globalstar by 3.4% in 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. Point72 Asia Singapore Pte. Ltd. grew its position in Globalstar by 1,000.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company's stock worth $161,000 after acquiring an additional 117,864 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Globalstar by 26.4% during the 3rd 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 in the last quarter. Finally, FMR LLC increased its holdings in Globalstar by 32.7% during the 3rd 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. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globalstar

In other news, Director James Monroe III purchased 530,000 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $1.90 per share, for a total transaction of $1,007,000.00. Following the completion of the acquisition, the director now directly owns 6,834,090 shares in the company, valued at approximately $12,984,771. The trade was a 8.41 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William A. Hasler sold 90,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the sale, the director now directly owns 848,668 shares of the company's stock, valued at $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 2,530,000 shares of company stock worth $4,937,000 and have sold 3,666,312 shares worth $8,104,313. 61.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Globalstar from a "sell" rating to a "hold" rating in a report on Monday, November 11th.

Globalstar Stock Up 0.9 %

NYSE:GSAT traded up $0.02 during mid-day trading on Friday, reaching $2.15. 20,154,000 shares of the company were exchanged, compared to its average volume of 8,127,934. 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 stock has a market capitalization of $4.07 billion, a PE ratio of -71.67 and a beta of 1.10. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.74. The firm's fifty day moving average is $2.00.

About Globalstar

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.