Globalstar, Inc. (NYSE:GSAT) Stock Holdings Lessened by Quadrature Capital Ltd

Quadrature Capital Ltd trimmed its stake in Globalstar, Inc. (NYSE:GSAT) by 66.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 172,874 shares of the company’s stock after selling 339,006 shares during the quarter. Quadrature Capital Ltd’s holdings in Globalstar were worth $336,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Legion Partners Asset Management LLC boosted its position in shares of Globalstar by 272.5% in the third quarter. Legion Partners Asset Management LLC now owns 6,835,000 shares of the company’s stock worth $8,954,000 after buying an additional 5,000,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Globalstar by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock worth $139,175,000 after purchasing an additional 2,547,398 shares in the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Globalstar during the fourth quarter worth approximately $4,324,000. Locust Wood Capital Advisers LLC acquired a new position in Globalstar in the 4th quarter valued at approximately $2,769,000. Finally, Plustick Management LLC lifted its position in Globalstar by 4.7% in the 4th quarter. Plustick Management LLC now owns 9,949,000 shares of the company’s stock worth $19,301,000 after buying an additional 450,000 shares in the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Globalstar Stock Performance

Shares of GSAT stock opened at $1.05 on Wednesday. Globalstar, Inc. has a fifty-two week low of $0.97 and a fifty-two week high of $2.13. The stock’s 50-day moving average is $1.09 and its two-hundred day moving average is $1.23. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.00 and a quick ratio of 0.90. The firm has a market cap of $2.00 billion, a P/E ratio of -52.50 and a beta of 0.83.

Globalstar (NYSE:GSAT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The firm 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%. Analysts predict that Globalstar, Inc. will post -0.02 earnings per share 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.