Key Points
- Rebecca Clary, Globalstar’s CFO, sold 1,260 shares on Dec. 29 at an average price of $61.42 for $77,389.20 and now holds 108,123 shares (a 1.15% reduction in her stake).
- Clary has executed multiple insider sales in recent months — including a large 16,316-share sale on Nov. 17 (~$951,549) — indicating continued insider liquidity-taking.
- GSAT is trading near $60 with a 50-day/200-day SMA of $58.51/$40.18, a $7.61 billion market cap, and a consensus analyst rating of Hold with a $68.50 price target.
Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 1,260 shares of the company's stock in a transaction on Monday, December 29th. The shares were sold at an average price of $61.42, for a total transaction of $77,389.20. Following the sale, the chief financial officer owned 108,123 shares of the company's stock, valued at $6,640,914.66. This represents a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Rebecca Clary also recently made the following trade(s):
- On Monday, December 22nd, Rebecca Clary sold 420 shares of Globalstar stock. The stock was sold at an average price of $63.01, for a total transaction of $26,464.20.
- 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 transaction of $273,514.56.
- 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 transaction 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 shares were sold at an average price of $58.32, for a total value 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 shares were 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 value of $192,515.19.
Globalstar Stock Performance
NASDAQ:GSAT opened at $59.99 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 2.53 and a debt-to-equity ratio of 1.33. The firm's fifty day simple moving average is $58.51 and its 200 day simple moving average is $40.18. The stock has a market cap of $7.61 billion, a P/E ratio of -130.41 and a beta of 1.08. Globalstar, Inc. has a twelve month low of $17.24 and a twelve month high of $74.88.
Globalstar (NASDAQ:GSAT - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $73.85 million during the quarter. Globalstar had a negative net margin of 21.07% and a negative return on equity of 3.67%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on GSAT shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Globalstar in a report on Monday, December 22nd. Zacks Research lowered Globalstar from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Globalstar in a report on Tuesday, December 16th. They issued a "hold" rating and a $62.00 price objective for the company. Finally, B. Riley boosted their target price on shares of Globalstar from $60.00 to $75.00 and gave the company a "buy" rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $68.50.
Read Our Latest Stock Analysis on GSAT
Institutional Trading of Globalstar
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Greenhouse Funds LLLP grew its position in Globalstar by 11.6% during the 2nd quarter. Greenhouse Funds LLLP now owns 2,025,516 shares of the company's stock valued at $47,701,000 after purchasing an additional 209,825 shares during the last quarter. Entropy Technologies LP purchased a new position in Globalstar in the second quarter worth about $351,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Globalstar by 124.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 143,039 shares of the company's stock worth $3,369,000 after buying an additional 79,185 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Globalstar during the second quarter valued at approximately $343,000. Finally, Palogic Value Management L.P. purchased a new stake in shares of Globalstar during the second quarter valued at approximately $1,178,000. Hedge funds and other institutional investors own 18.89% of the company's stock.
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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