Globalstar, Inc. (NYSE:GSAT) Director James Monroe III Purchases 500,000 Shares

Globalstar, Inc. (NYSE:GSAT - Get Free Report) Director James Monroe III bought 500,000 shares of the business's stock in a transaction on Monday, December 23rd. The stock was bought at an average cost of $1.93 per share, for a total transaction 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 trade represents a 5.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

James Monroe III also recently made the following trade(s):

• On Friday, December 20th, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were purchased at an average price of $1.97 per share, with a total value of $985,000.00.
• On Wednesday, December 18th, James Monroe III bought 500,000 shares of Globalstar stock. The stock was purchased at an average price of $2.00 per share, for a total transaction of $1,000,000.00.
• On Monday, December 16th, James Monroe III purchased 500,000 shares of Globalstar stock. The stock was purchased at an average cost of $1.96 per share, with a total value of $980,000.00.
• On Friday, December 13th, James Monroe III acquired 530,000 shares of Globalstar stock. The shares were acquired at an average cost of $1.90 per share, for a total transaction of $1,007,000.00.

Globalstar Stock Performance

GSAT stock traded up $0.16 during mid-day trading on Thursday, hitting $2.13. 18,741,500 shares of the company were exchanged, compared to its average volume of 8,079,637. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74. The business has a 50 day simple moving average of $1.99. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -71.00 and a beta of 1.10.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Globalstar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake 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 acquiring an additional 580,305 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Globalstar by 2.3% in the third quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company's stock worth $20,852,000 after purchasing an additional 382,288 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Globalstar by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company's stock worth $7,671,000 after purchasing an additional 196,644 shares during 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. Finally, JPMorgan Chase & Co. lifted its position in Globalstar by 36.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company's stock worth $2,811,000 after buying an additional 603,285 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

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.