Globalstar, Inc. (NYSEAMERICAN:GSAT) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 57.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,561 shares of the company’s stock after buying an additional 19,946 shares during the period. Thrivent Financial for Lutherans’ holdings in Globalstar were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GSAT. PFG Investments LLC raised its holdings in shares of 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 acquiring an additional 10,000 shares during the period. CWA Asset Management Group LLC purchased a new position in Globalstar during the third quarter worth about $27,000. XTX Topco Ltd acquired a new position in Globalstar in the 2nd quarter valued at about $31,000. Panagora Asset Management Inc. purchased a new stake in shares of Globalstar in the 2nd quarter valued at approximately $35,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Globalstar during the 3rd quarter worth approximately $39,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Globalstar

In other news, VP Timothy Evan Taylor sold 395,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $1.22, for a total transaction of $481,900.00. Following the completion of the sale, the vice president now owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 61.00% of the company’s stock.

Globalstar Stock Up 7.3 %

GSAT stock opened at $2.21 on Friday. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.29. The company’s 50 day moving average price is $1.25 and its 200 day moving average price is $1.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of -73.00 and a beta of 0.88.

Analyst Ratings Changes

Separately, Craig Hallum upped their target price on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

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.