Globalstar, Inc. (NYSE:GSAT) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC lifted its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 28.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 318,617 shares of the company’s stock after acquiring an additional 70,179 shares during the period. Inspire Investing LLC’s holdings in Globalstar were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Globalstar in the second quarter valued at approximately $31,000. Renaissance Technologies LLC raised its position in Globalstar by 12.9% in the second quarter. Renaissance Technologies LLC now owns 176,629 shares of the company’s stock valued at $198,000 after purchasing an additional 20,200 shares during the period. PFG Investments LLC lifted its stake in shares of Globalstar by 83.3% in the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after purchasing an additional 10,000 shares during the last quarter. Magnus Financial Group LLC grew its holdings in shares of Globalstar by 1.9% during the 2nd quarter. Magnus Financial Group LLC now owns 2,707,796 shares of the company’s stock worth $3,033,000 after purchasing an additional 50,000 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Globalstar by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 1,021,836 shares of the company’s stock worth $1,144,000 after purchasing an additional 28,496 shares during the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Insider Transactions at Globalstar

In related news, VP Timothy Evan Taylor sold 395,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total value of $481,900.00. Following the sale, the vice president now owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Globalstar news, Director James Monroe III purchased 4,510,855 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $1.06 per share, with a total value of $4,781,506.30. Following the transaction, the director now directly owns 8,708,254 shares of the company’s stock, valued at approximately $9,230,749.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy Evan Taylor sold 395,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total transaction of $481,900.00. Following the completion of the transaction, the vice president now owns 10,278,649 shares of the company’s stock, valued at approximately $12,539,951.78. The disclosure for this sale can be found here. Company insiders own 61.00% of the company’s stock.

Globalstar Trading Up 0.8 %

NYSE GSAT opened at $1.23 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The stock has a market capitalization of $2.34 billion, a P/E ratio of -61.50 and a beta of 0.86. The firm’s 50-day moving average is $1.28 and its two-hundred day moving average is $1.21. Globalstar, Inc. has a 12 month low of $1.01 and a 12 month high of $2.13.

Globalstar (NYSE:GSAT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Globalstar had a negative net margin of 22.96% and a negative return on equity of 13.69%. The firm had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. On average, sell-side analysts anticipate that Globalstar, Inc. will post -0.02 earnings per share for the current year.

About Globalstar

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.