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

Barclays PLC boosted its position in shares of Globalstar, Inc. (NYSE:GSAT - Free Report) by 36.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GSAT. FMR LLC boosted its holdings in Globalstar by 32.7% during the third 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. XTX Topco Ltd boosted its stake in shares of Globalstar by 3,472.7% during the 3rd 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. State Street Corp grew 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 valued at $21,804,000 after acquiring an additional 580,305 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Globalstar by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company's stock valued at $7,671,000 after acquiring an additional 196,644 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings 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 acquiring an additional 117,864 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company's stock.

Insider Activity

In other Globalstar news, CFO Rebecca Clary sold 37,688 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $2.13, for a total transaction of $80,275.44. Following the completion of the sale, the chief financial officer now owns 1,396,027 shares of the company's stock, valued at $2,973,537.51. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Monroe III acquired 500,000 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $1.93 per share, for a total transaction of $965,000.00. Following the completion of the acquisition, the director now owns 10,334,090 shares of the company's stock, valued at approximately $19,944,793.70. The trade was a 5.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 2,530,000 shares of company stock valued at $4,937,000 and sold 3,666,312 shares valued at $8,104,313. Insiders own 61.00% of the company's stock.

Analyst Ratings Changes

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

Globalstar Stock Performance

GSAT traded up $0.02 during trading on Friday, reaching $2.15. 20,154,000 shares of the stock 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 business's 50 day moving average price is $2.00. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.74. The company has a market cap of $4.07 billion, a PE ratio of -71.67 and a beta of 1.10.

Globalstar 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.