Globalstar, Inc. (NYSE:GSAT) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Globalstar, Inc. (NYSE:GSAT - Free Report) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,812,336 shares of the company's stock after purchasing an additional 382,288 shares during the period. Geode Capital Management LLC owned 0.89% of Globalstar worth $20,852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GSAT. FMR LLC boosted its holdings in shares of 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 lifted its position in 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 buying an additional 949,025 shares during the period. State Street Corp grew its holdings in 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 buying an additional 580,305 shares during the period. Barclays PLC grew its holdings 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 during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Globalstar by 3.3% during the 3rd 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 last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Globalstar Stock Performance

Globalstar stock traded up $0.02 during trading on Friday, reaching $2.15. 20,154,000 shares of the company's stock were exchanged, compared to its average volume of 8,127,934. Globalstar, Inc. has a 52-week low of $1.00 and a 52-week high of $2.74. The company has a market cap of $4.07 billion, a price-to-earnings ratio of -71.67 and a beta of 1.10. 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 simple moving average is $2.00.

Insiders Place Their Bets

In other news, Director James Monroe III purchased 500,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $1.93 per share, with a total value of $965,000.00. Following the purchase, the director now directly owns 10,334,090 shares of the company's stock, valued at approximately $19,944,793.70. This represents a 5.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rebecca Clary sold 37,688 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $2.13, for a total transaction of $80,275.44. Following the completion of the transaction, the chief financial officer now directly owns 1,396,027 shares of the company's stock, valued at approximately $2,973,537.51. The trade was a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, 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 currently owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Globalstar from a "sell" rating to a "hold" rating in a report 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.