Fmr LLC Increases Holdings in Globalstar, Inc. (NYSE:GSAT)

Fmr LLC boosted its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 32.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,473,492 shares of the company’s stock after acquiring an additional 1,102,776 shares during the quarter. Fmr LLC owned about 0.24% of Globalstar worth $5,547,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Charles Schwab Investment Management Inc. increased its holdings in shares of Globalstar by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after buying an additional 196,644 shares during the last quarter. 18.89% of the stock is owned by hedge funds and other institutional investors.

Globalstar Price Performance

GSAT stock opened at $2.00 on Friday. The company’s 50 day simple moving average is $1.92. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -66.67 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.74.

Insider Transactions at Globalstar

In other Globalstar news, General Counsel L Barbee Iv Ponder sold 38,624 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $2.08, for a total transaction of $80,337.92. Following the completion of the sale, the general counsel now directly owns 2,057,241 shares of the company’s stock, valued at approximately $4,279,061.28. The trade was a 1.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William A. Hasler sold 90,000 shares of Globalstar stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the transaction, the director now owns 848,668 shares in the company, valued at approximately $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,312 shares of company stock valued at $334,313. 61.00% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.