Renaissance Technologies LLC Purchases 20,200 Shares of Globalstar, Inc. (NYSE:GSAT)

Renaissance Technologies LLC boosted its holdings in shares of Globalstar, Inc. (NYSE:GSAT) by 12.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,629 shares of the company’s stock after purchasing an additional 20,200 shares during the period. Renaissance Technologies LLC’s holdings in Globalstar were worth $198,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. 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 worth $25,000 after purchasing an additional 10,000 shares in the last quarter. Abel Hall LLC acquired a new stake in shares of Globalstar during the 4th quarter valued at $26,000. Empowered Funds LLC bought a new stake in Globalstar during the 1st quarter worth $26,000. Grant Street Asset Management Inc. acquired a new position in Globalstar in the 1st quarter worth about $29,000. Finally, Second Line Capital LLC bought a new position in Globalstar in the first quarter valued at about $34,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Insider Activity at Globalstar

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

Globalstar Price Performance

Shares of NYSE:GSAT opened at $1.20 on Friday. The firm has a market cap of $2.28 billion, a PE ratio of -60.00 and a beta of 0.85. Globalstar, Inc. has a 52 week low of $1.01 and a 52 week high of $2.13. The firm’s fifty day moving average is $1.20 and its 200-day moving average is $1.23. 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 (NYSE:GSAT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $60.39 million during the quarter, compared to analysts’ expectations of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. Sell-side analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current 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.