James Monroe III Buys 500,000 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSAT - Get Free Report) Director James Monroe III acquired 500,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average price of $2.10 per share, with a total value of $1,050,000.00. Following the completion of the transaction, the director now owns 11,334,090 shares in the company, valued at $23,801,589. This represents a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 23rd, James Monroe III acquired 500,000 shares of Globalstar stock. The shares were purchased at an average cost 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 stock was purchased at an average cost 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, with a total value of $1,000,000.00.
• On Monday, December 16th, James Monroe III purchased 500,000 shares of Globalstar stock. The shares were purchased at an average price of $1.96 per share, for a total transaction of $980,000.00.
• On Friday, December 13th, James Monroe III acquired 530,000 shares of Globalstar stock. The stock was acquired at an average price of $1.90 per share, with a total value of $1,007,000.00.

Globalstar Price Performance

NYSE GSAT traded up $0.02 on Monday, reaching $2.17. The company had a trading volume of 20,198,100 shares, compared to its average volume of 8,176,022. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -72.33 and a beta of 1.10. 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 fifty-two week low of $1.00 and a fifty-two week high of $2.74. The business has a 50 day moving average price of $2.01.

Institutional Investors Weigh In On Globalstar

A number of institutional investors have recently made changes to their positions in GSAT. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Globalstar during the third quarter worth $56,000. BNP Paribas Financial Markets boosted its position in Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company's stock valued at $407,000 after acquiring an additional 68,599 shares during the last quarter. Sender Co & Partners Inc. acquired a new stake in Globalstar during the 3rd quarter worth about $106,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Globalstar by 1,000.5% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Globalstar by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company's stock valued at $7,671,000 after purchasing an additional 196,644 shares during the period. Institutional investors own 18.89% of the company's stock.

Wall Street Analysts Forecast Growth

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