State Street Corp Raises Stake in Globalstar, Inc. (NYSE:GSAT)

State Street Corp grew its holdings in Globalstar, Inc. (NYSE:GSAT - Free Report) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,583,625 shares of the company's stock after buying an additional 580,305 shares during the period. State Street Corp owned 0.93% of Globalstar worth $21,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 196,644 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Globalstar in the 3rd quarter valued at $56,000. FMR LLC increased its stake in shares of Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company's stock worth $5,547,000 after acquiring an additional 1,102,776 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company's stock worth $407,000 after acquiring an additional 68,599 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Globalstar by 1,000.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company's stock valued at $161,000 after acquiring an additional 117,864 shares during the last quarter. 18.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Globalstar

In other Globalstar news, Director William A. Hasler sold 90,000 shares of Globalstar 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 completion of the transaction, the director now directly owns 848,668 shares of the company's stock, valued at $1,637,929.24. The trade was a 9.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rebecca Clary sold 37,688 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $2.13, for a total transaction of $80,275.44. Following the sale, the chief financial officer now owns 1,396,027 shares in the company, valued at $2,973,537.51. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 2,030,000 shares of company stock worth $3,972,000 and have sold 3,666,312 shares worth $8,104,313. 61.00% of the stock is owned by insiders.

Globalstar Price Performance

Shares of GSAT stock traded down $0.02 during trading on Monday, hitting $1.93. 9,846,400 shares of the stock traded hands, compared to its average volume of 8,046,383. Globalstar, Inc. has a 52-week low of $1.00 and a 52-week high of $2.74. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -64.33 and a beta of 1.10. The firm's fifty day moving average price is $1.96. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

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.