Key Points
- General Counsel L. Barbee IV Ponder sold 492 shares on March 10 at an average price of $55.38 for $27,246.96, leaving him with 142,635 shares (a 0.34% reduction); he also sold 1,260 shares on Dec. 29 and 420 shares on Dec. 22.
- Stock and analyst snapshot: GSAT was trading up ~3.7% (opened $58.77), with a one‑year range of $17.24–$74.88 and a $7.55B market cap, while analysts are mixed (consensus "Hold", average target $69 with 2 Buys, 1 Hold, 2 Sells).
Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 351 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $55.38, for a total value of $19,438.38. Following the completion of the sale, the chief financial officer directly owned 109,459 shares of the company's stock, valued at approximately $6,061,839.42. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Rebecca Clary also recently made the following trade(s):
- On Monday, December 29th, Rebecca Clary sold 1,260 shares of Globalstar stock. The stock was sold at an average price of $61.42, for a total value of $77,389.20.
- On Monday, December 22nd, Rebecca Clary sold 420 shares of Globalstar stock. The shares were sold at an average price of $63.01, for a total value of $26,464.20.
- 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 transaction 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 transaction of $273,514.56.
Globalstar Stock Up 3.7%
Globalstar stock opened at $58.77 on Wednesday. Globalstar, Inc. has a twelve month low of $17.24 and a twelve month high of $74.88. The stock has a market cap of $7.55 billion, a P/E ratio of -391.77, a P/E/G ratio of 92.51 and a beta of 1.43. The company's 50-day moving average price is $60.99 and its two-hundred day moving average price is $52.98. The company has a quick ratio of 2.37, a current ratio of 2.42 and a debt-to-equity ratio of 1.27.
Institutional Investors Weigh In On Globalstar
Hedge funds have recently added to or reduced their stakes in the company. Broad Bay Capital Management LP bought a new stake in Globalstar during the 2nd quarter valued at $18,405,000. Marshall Wace LLP grew its holdings in shares of Globalstar by 2,093.4% during the second quarter. Marshall Wace LLP now owns 777,728 shares of the company's stock valued at $18,315,000 after buying an additional 742,271 shares during the last quarter. Senvest Management LLC grew its holdings in shares of Globalstar by 51.6% during the second quarter. Senvest Management LLC now owns 1,330,533 shares of the company's stock valued at $31,334,000 after buying an additional 452,624 shares during the last quarter. UBS Group AG increased its position in shares of Globalstar by 166.9% during the fourth quarter. UBS Group AG now owns 526,566 shares of the company's stock worth $32,142,000 after acquiring an additional 329,270 shares in the last quarter. Finally, Defiance ETFs LLC acquired a new stake in shares of Globalstar in the 4th quarter worth about $19,461,000. Institutional investors and hedge funds own 18.89% of the company's stock.
Analyst Upgrades and Downgrades
GSAT has been the topic of a number of research reports. Craig Hallum reaffirmed a "buy" rating and set a $70.00 target price on shares of Globalstar in a research note on Monday, March 2nd. Zacks Research downgraded shares of Globalstar from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Globalstar in a research note on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Globalstar in a research report on Tuesday, December 16th. They issued a "hold" rating and a $62.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Globalstar has a consensus rating of "Hold" and a consensus price target of $69.00.
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About Globalstar
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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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