Algert Global LLC Makes New $86,000 Investment in Globalstar, Inc. (NYSE:GSAT)

Algert Global LLC purchased a new stake in Globalstar, Inc. (NYSE:GSAT) during the second quarter, according to its most recent filing with the SEC. The firm purchased 76,416 shares of the company’s stock, valued at approximately $86,000.

Several other large investors have also recently made changes to their positions in GSAT. PFG Investments LLC increased its position in Globalstar by 83.3% during the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after buying an additional 10,000 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of Globalstar in the fourth quarter worth $26,000. Empowered Funds LLC purchased a new position in shares of Globalstar during the 1st quarter valued at about $26,000. Grant Street Asset Management Inc. purchased a new position in Globalstar during the first quarter valued at approximately $29,000. Finally, XTX Topco Ltd acquired a new position in Globalstar in the second quarter valued at approximately $31,000. 18.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Globalstar news, VP Timothy Evan Taylor sold 395,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,278,649 shares of the company’s stock, valued at approximately $12,539,951.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Globalstar news, VP Timothy Evan Taylor sold 395,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $1.22, for a total transaction of $481,900.00. Following the transaction, the vice president now directly owns 10,278,649 shares of the company’s stock, valued at $12,539,951.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rebecca Clary sold 75,000 shares of Globalstar stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total transaction of $93,750.00. Following the completion of the sale, the chief financial officer now owns 1,418,745 shares in the company, valued at approximately $1,773,431.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 61.00% of the stock is currently owned by insiders.

Globalstar Price Performance

NYSE:GSAT opened at $1.20 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 company has a 50 day moving average price of $1.20 and a 200-day moving average price of $1.23. Globalstar, Inc. has a 1-year low of $1.01 and a 1-year high of $2.13. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -60.00 and a beta of 0.85.

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

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.