Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 24,100 shares of Globalstar stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $82.17, for a total value of $1,980,297.00. Following the completion of the transaction, the chief financial officer directly owned 96,540 shares in the company, valued at $7,932,691.80. This trade represents a 19.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Rebecca Clary also recently made the following trade(s):
- On Thursday, June 4th, Rebecca Clary sold 920 shares of Globalstar stock. The shares were sold at an average price of $81.75, for a total value of $75,210.00.
Globalstar Stock Up 0.8%
Shares of Globalstar stock opened at $83.03 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.51 and a current ratio of 1.55. Globalstar, Inc. has a 52-week low of $24.37 and a 52-week high of $84.85. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of -162.80 and a beta of 1.58. The company's 50 day moving average price is $80.87 and its 200-day moving average price is $74.21.
Globalstar (NASDAQ:GSAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). Globalstar had a negative net margin of 22.25% and a negative return on equity of 16.66%. The firm had revenue of $64.77 million for the quarter. Globalstar's revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts forecast that Globalstar, Inc. will post -0.62 EPS for the current year.
Hedge Funds Weigh In On Globalstar
A number of institutional investors have recently added to or reduced their stakes in GSAT. Public Employees Retirement System of Ohio bought a new stake in shares of Globalstar during the 2nd quarter valued at $1,194,000. Bank of New York Mellon Corp bought a new position in shares of Globalstar in the 2nd quarter worth about $13,233,000. Handelsbanken Fonder AB increased its stake in shares of Globalstar by 13.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 16,400 shares of the company's stock worth $1,333,000 after acquiring an additional 2,000 shares in the last quarter. Optiver Holding B.V. purchased a new position in Globalstar during the 1st quarter valued at about $32,000. Finally, Edgestream Partners L.P. lifted its position in Globalstar by 64.2% during the 1st quarter. Edgestream Partners L.P. now owns 23,329 shares of the company's stock valued at $1,550,000 after acquiring an additional 9,118 shares during the period. Institutional investors own 18.89% of the company's stock.
Analyst Ratings Changes
GSAT has been the subject of several recent analyst reports. Clear Str downgraded shares of Globalstar from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Wall Street Zen raised Globalstar to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Globalstar from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, June 5th. Finally, Zacks Research raised Globalstar from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $69.00.
View Our Latest Research Report on Globalstar
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.
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