B. Riley Wealth Advisors Inc. Grows Stock Holdings in Globalstar, Inc. (NYSE:GSAT)

B. Riley Wealth Advisors Inc. boosted its holdings in Globalstar, Inc. (NYSE:GSAT) by 264.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 560,888 shares of the company’s stock after buying an additional 407,058 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Globalstar were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of GSAT. Legion Partners Asset Management LLC grew its stake in Globalstar by 272.5% in the 3rd quarter. Legion Partners Asset Management LLC now owns 6,835,000 shares of the company’s stock valued at $8,954,000 after buying an additional 5,000,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Globalstar by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock valued at $139,175,000 after purchasing an additional 2,547,398 shares during the period. Wolf Hill Capital Management LP bought a new position in Globalstar in the 4th quarter valued at $4,324,000. Locust Wood Capital Advisers LLC bought a new position in Globalstar in the 4th quarter valued at $2,769,000. Finally, Quadrature Capital Ltd bought a new position in Globalstar in the 3rd quarter valued at $673,000. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Globalstar Stock Up 3.8 %

Shares of NYSE:GSAT opened at $1.08 on Friday. The firm has a fifty day moving average price of $1.11 and a two-hundred day moving average price of $1.25. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.00 and a quick ratio of 0.90. Globalstar, Inc. has a one year low of $0.96 and a one year high of $2.13. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -54.00 and a beta of 0.82.

Globalstar (NYSE:GSAT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Globalstar had a negative net margin of 19.14% and a negative return on equity of 11.66%. The firm had revenue of $56.48 million during the quarter, compared to the consensus estimate of $52.92 million. Analysts anticipate that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Globalstar from a “hold” rating to a “sell” rating in a report on Thursday, February 29th.

Globalstar 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.