Globalstar, Inc. (NYSE:GSAT) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd boosted its stake in shares of Globalstar, Inc. (NYSE:GSAT - Free Report) by 3,472.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 976,353 shares of the company's stock after buying an additional 949,025 shares during the quarter. XTX Topco Ltd owned 0.05% of Globalstar worth $1,211,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. FMR LLC boosted its stake in shares of 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 during the period. State Street Corp raised its holdings in Globalstar by 3.4% in the third 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. raised its holdings in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in Globalstar by 1,000.5% in the third 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 in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Globalstar by 26.4% in 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 in the last quarter. Hedge funds and other institutional investors own 18.89% of the company's stock.

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Analysts Set New Price Targets

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

Insider Activity at Globalstar

In other Globalstar news, Director William A. Hasler sold 90,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total transaction of $173,700.00. Following the sale, the director now directly owns 848,668 shares in the company, valued at approximately $1,637,929.24. The trade was a 9.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 61.00% of the stock is currently owned by insiders.

Globalstar Price Performance

Shares of GSAT traded up $0.18 during mid-day trading on Tuesday, reaching $2.29. 77,849,203 shares of the company's stock were exchanged, compared to its average volume of 7,621,549. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The stock has a market cap of $4.33 billion, a PE ratio of -76.33 and a beta of 1.10. The stock's fifty day simple moving average is $1.90. Globalstar, Inc. has a 52-week low of $1.00 and a 52-week high of $2.74.

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.