Key Points
- CFO Rebecca Clary sold 4,066 shares on April 28 at an average price of $81.24 for $330,321.84 to cover tax withholding, reducing her stake by 3.25% to 121,198 shares.
- This sale continues a recent pattern of insider selling by Clary (4,037 shares on Apr 15 at $79.85; 762 on Mar 11 at $57.31; 351 on Mar 10 at $55.38), showing multiple disposals during March–April.
- Market context: GSAT is trading near its 12‑month high (around $81) with a $10.45B market cap, but the company reported a quarterly loss and negative margins despite year-over-year revenue growth.
Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 4,066 shares of the firm's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $81.24, for a total transaction of $330,321.84. Following the sale, the chief financial officer owned 121,198 shares in the company, valued at $9,846,125.52. This trade represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rebecca Clary also recently made the following trade(s):
- On Wednesday, April 15th, Rebecca Clary sold 4,037 shares of Globalstar stock. The stock was sold at an average price of $79.85, for a total transaction of $322,354.45.
- On Wednesday, March 11th, Rebecca Clary sold 762 shares of Globalstar stock. The stock was sold at an average price of $57.31, for a total transaction of $43,670.22.
- On Tuesday, March 10th, Rebecca Clary sold 351 shares of Globalstar stock. The stock was sold at an average price of $55.38, for a total transaction of $19,438.38.
Globalstar Price Performance
NASDAQ GSAT opened at $81.28 on Wednesday. The company has a quick ratio of 2.37, a current ratio of 2.42 and a debt-to-equity ratio of 1.27. Globalstar, Inc. has a 12-month low of $17.24 and a 12-month high of $82.10. The company has a market capitalization of $10.45 billion, a PE ratio of -541.83, a price-to-earnings-growth ratio of 133.71 and a beta of 1.46. The firm's 50 day moving average is $67.35 and its 200-day moving average is $61.75.
Globalstar (NASDAQ:GSAT - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). Globalstar had a negative net margin of 6.10% and a negative return on equity of 1.02%. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $71.80 million. The company's revenue was up 17.6% compared to the same quarter last year. Equities research analysts anticipate that Globalstar, Inc. will post 0.02 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
GSAT has been the topic of a number of recent research reports. Craig Hallum reiterated a "buy" rating and issued a $70.00 price objective on shares of Globalstar in a report on Monday, March 2nd. Zacks Research upgraded shares of Globalstar from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 1st. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $69.00.
Read Our Latest Research Report on GSAT
Hedge Funds Weigh In On Globalstar
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Globalstar during the third quarter worth $713,000. Essex Investment Management Co. LLC acquired a new position in Globalstar during the third quarter worth $7,072,000. JT Stratford LLC acquired a new position in Globalstar during the third quarter worth $2,678,000. Vanguard Group Inc. increased its holdings in Globalstar by 2.8% during the third quarter. Vanguard Group Inc. now owns 5,233,721 shares of the company's stock worth $190,455,000 after buying an additional 141,451 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Globalstar by 24.3% during the third quarter. American Century Companies Inc. now owns 1,260,459 shares of the company's stock worth $45,868,000 after buying an additional 246,123 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.
Globalstar Company Profile
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
