Empowered Funds LLC acquired a new position in Globalstar, Inc. (NYSE:GSAT – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 17,648 shares of the company’s stock, valued at approximately $26,000.
Several other hedge funds and other institutional investors have also bought and sold shares of GSAT. Abel Hall LLC acquired a new position in shares of Globalstar in the 4th quarter valued at approximately $26,000. Panagora Asset Management Inc. acquired a new position in shares of Globalstar in the 4th quarter valued at approximately $35,000. Grant Street Asset Management Inc. acquired a new position in shares of Globalstar in the 1st quarter valued at approximately $29,000. Simplicity Wealth LLC acquired a new position in shares of Globalstar in the 1st quarter valued at approximately $59,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Globalstar in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 18.89% of the company’s stock.
Insiders Place Their Bets
In other Globalstar news, Director James Monroe III bought 4,510,855 shares of Globalstar stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $1.06 per share, with a total value of $4,781,506.30. Following the acquisition, the director now directly owns 8,708,254 shares of the company’s stock, valued at approximately $9,230,749.24. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 61.00% of the company’s stock.
Globalstar Price Performance
Shares of NYSE:GSAT opened at $1.22 on Tuesday. The firm has a 50 day moving average of $1.17 and a 200-day moving average of $1.18. The stock has a market capitalization of $2.32 billion, a PE ratio of -61.00 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.97. Globalstar, Inc. has a 12 month low of $1.01 and a 12 month high of $2.13.
Globalstar (NYSE:GSAT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $56.48 million for the quarter, compared to analyst estimates of $52.92 million. Globalstar had a negative net margin of 19.14% and a negative return on equity of 11.66%. On average, equities research analysts predict that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.
Globalstar Company Profile
Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.
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