UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 169,488 Shares of Globalstar, Inc. (NYSE:GSAT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Globalstar, Inc. (NYSE:GSAT) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,358,093 shares of the company’s stock after selling 169,488 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.07% of Globalstar worth $1,684,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Globalstar during the 3rd quarter worth approximately $56,000. BNP Paribas Financial Markets raised its position in Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 shares in the last quarter. FMR LLC raised its position in Globalstar by 32.7% during the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after purchasing an additional 1,102,776 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Globalstar by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after purchasing an additional 196,644 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

Insider Transactions at Globalstar

In other Globalstar news, Director James Monroe III acquired 500,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $1.96 per share, with a total value of $980,000.00. Following the purchase, the director now directly owns 7,834,090 shares of the company’s stock, valued at $15,354,816.40. This trade represents a 6.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total value of $173,700.00. Following the sale, the director now owns 848,668 shares in the company, valued at approximately $1,637,929.24. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,666,312 shares of company stock worth $8,104,313. Company insiders own 61.00% of the company’s stock.

Globalstar Price Performance

Globalstar stock opened at $1.95 on Tuesday. The firm has a 50 day moving average price of $1.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. Globalstar, Inc. has a 1 year low of $1.00 and a 1 year high of $2.74. The firm has a market capitalization of $3.69 billion, a P/E ratio of -65.00 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note 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.