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

Inspire Investing LLC raised its stake in Globalstar, Inc. (NYSE:GSAT) by 28.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 318,617 shares of the company’s stock after purchasing an additional 70,179 shares during the quarter. Inspire Investing LLC’s holdings in Globalstar were worth $357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GSAT. Vanguard Group Inc. boosted its stake in shares of Globalstar by 2.1% in the first quarter. Vanguard Group Inc. now owns 73,234,084 shares of the company’s stock valued at $107,654,000 after purchasing an additional 1,494,552 shares during the period. Anson Funds Management LP boosted its position in Globalstar by 38.8% in the 1st quarter. Anson Funds Management LP now owns 10,835,267 shares of the company’s stock valued at $15,928,000 after buying an additional 3,028,923 shares during the last quarter. Plustick Management LLC grew its stake in shares of Globalstar by 4.7% during the fourth quarter. Plustick Management LLC now owns 9,949,000 shares of the company’s stock valued at $19,301,000 after acquiring an additional 450,000 shares in the last quarter. Ashford Capital Management Inc. increased its position in shares of Globalstar by 1,551.7% during the first quarter. Ashford Capital Management Inc. now owns 7,027,954 shares of the company’s stock worth $10,331,000 after acquiring an additional 6,602,454 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Globalstar by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,646,468 shares of the company’s stock worth $10,954,000 after acquiring an additional 213,489 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Trading Up 0.8 %

Shares of GSAT opened at $1.23 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04. Globalstar, Inc. has a one year low of $1.01 and a one year high of $2.13. The stock has a 50-day moving average price of $1.28 and a 200 day moving average price of $1.21. The company has a market capitalization of $2.34 billion, a P/E ratio of -61.50 and a beta of 0.86.

Globalstar (NYSE:GSAT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $60.39 million during the quarter, compared to the consensus estimate of $57.49 million. Globalstar had a negative net margin of 22.96% and a negative return on equity of 13.69%. Sell-side analysts forecast that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.

Insider Transactions at Globalstar

In related news, VP Timothy Evan Taylor sold 395,000 shares of Globalstar stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total value of $481,900.00. Following the completion of the transaction, the vice president now directly owns 10,278,649 shares in the company, valued at $12,539,951.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Rebecca Clary sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total transaction of $93,750.00. Following the sale, the chief financial officer now directly owns 1,418,745 shares of the company’s stock, valued at approximately $1,773,431.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Timothy Evan Taylor sold 395,000 shares of the firm’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 transaction, the vice president now owns 10,278,649 shares in the company, valued at $12,539,951.78. The disclosure for this sale can be found here. Insiders own 61.00% of the company’s stock.

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.