Key Points
- Rebecca Clary, Globalstar's CFO, sold 420 shares on December 22 at an average price of $63.01 for $26,464, leaving her with 109,383 shares (a 0.38% reduction) — the trade was disclosed in an SEC filing.
- Clary has executed multiple recent sales throughout September–December — including a 16,316-share sale on Nov. 17 — totaling roughly $2.4 million in proceeds from insiders' transactions listed in the filing.
- For context, GSAT opened at $66.63 with a 50-day/200-day moving average of $56.65/$38.73, a market cap of $8.45 billion and a negative P/E; analysts' consensus is a Hold with an average target of $68.50.
Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 420 shares of the company's stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $63.01, for a total value of $26,464.20. Following the sale, the chief financial officer owned 109,383 shares in the company, valued at $6,892,222.83. The trade was a 0.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Rebecca Clary also recently made the following trade(s):
- On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The shares were sold at an average price of $56.64, for a total value of $273,514.56.
- On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total value of $273,514.56.
- On Monday, December 8th, Rebecca Clary sold 1,221 shares of Globalstar stock. The stock was sold at an average price of $67.88, for a total value of $82,881.48.
- On Monday, December 1st, Rebecca Clary sold 4,380 shares of Globalstar stock. The shares were sold at an average price of $59.92, for a total value of $262,449.60.
- On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The stock was sold at an average price of $58.32, for a total transaction of $951,549.12.
- On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The stock was sold at an average price of $60.84, for a total value of $72,277.92.
- On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The stock was sold at an average price of $61.34, for a total value of $3,435.04.
- On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The shares were sold at an average price of $48.31, for a total value of $220,873.32.
- On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The stock was sold at an average price of $44.43, for a total transaction of $192,515.19.
- On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The shares were sold at an average price of $35.01, for a total transaction of $73,521.00.
Globalstar Stock Performance
NASDAQ GSAT opened at $66.63 on Tuesday. The firm has a 50-day moving average of $56.65 and a 200-day moving average of $38.73. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.46 and a current ratio of 2.53. The stock has a market cap of $8.45 billion, a PE ratio of -144.85 and a beta of 1.08. Globalstar, Inc. has a 52-week low of $17.24 and a 52-week high of $74.88.
Globalstar (NASDAQ:GSAT - Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.02. The company had revenue of $73.85 million for the quarter. Globalstar had a negative return on equity of 3.67% and a negative net margin of 21.07%.Globalstar's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS.
Institutional Investors Weigh In On Globalstar
A number of large investors have recently bought and sold shares of the company. Broad Bay Capital Management LP bought a new position in Globalstar in the 2nd quarter valued at about $18,405,000. Marshall Wace LLP boosted its position in shares of Globalstar by 2,093.4% during the 2nd quarter. Marshall Wace LLP now owns 777,728 shares of the company's stock worth $18,315,000 after acquiring an additional 742,271 shares in the last quarter. Senvest Management LLC boosted its position in shares of Globalstar by 51.6% during the 2nd quarter. Senvest Management LLC now owns 1,330,533 shares of the company's stock worth $31,334,000 after acquiring an additional 452,624 shares in the last quarter. Penserra Capital Management LLC increased its stake in Globalstar by 320.9% in the second quarter. Penserra Capital Management LLC now owns 486,521 shares of the company's stock valued at $11,456,000 after acquiring an additional 370,943 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Globalstar by 39.5% during the second quarter. American Century Companies Inc. now owns 1,014,336 shares of the company's stock valued at $23,888,000 after purchasing an additional 287,163 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
GSAT has been the topic of several research reports. Zacks Research downgraded shares of Globalstar from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Globalstar in a report on Monday, December 15th. B. Riley increased their target price on shares of Globalstar from $60.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Globalstar in a research report on Tuesday, December 16th. They issued a "hold" rating and a $62.00 price target for the company. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Globalstar presently has a consensus rating of "Hold" and an average target price of $68.50.
View Our Latest Analysis on Globalstar
About Globalstar
(
Get Free Report)
Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.
Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.
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