Vontobel Holding Ltd. Purchases Shares of 20,000 Globalstar, Inc. (NYSEARCA:GSAT)

Vontobel Holding Ltd. purchased a new stake in Globalstar, Inc. (NYSEARCA:GSAT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,000 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Investments LLC bought a new stake in shares of Globalstar during the fourth quarter worth about $25,000. CWA Asset Management Group LLC purchased a new stake in shares of Globalstar during the 3rd quarter valued at $27,000. IRON Financial LLC purchased a new position in Globalstar in the 4th quarter worth $29,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Globalstar in the 3rd quarter worth $39,000. Finally, Masso Torrence Wealth Management Inc. bought a new stake in Globalstar in the 4th quarter worth $52,000. 18.89% of the stock is owned by institutional investors.

Globalstar Stock Performance

Globalstar stock opened at $20.67 on Friday. The company has a fifty day moving average of $5.59. Globalstar, Inc. has a 1 year low of $15.00 and a 1 year high of $41.10. The firm has a market cap of $39.15 billion, a PE ratio of -689.00 and a beta of 1.07. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GSAT shares. Craig Hallum lifted their target price on shares of Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, B. Riley increased their target price on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday.

Insiders Place Their Bets

In related news, Director William A. Hasler sold 90,000 shares of the business’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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rebecca Clary sold 37,688 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $2.13, for a total transaction of $80,275.44. Following the completion of the sale, the chief financial officer now owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,030,000 shares of company stock valued at $5,987,000 and have sold 3,680,851 shares valued at $8,136,154. 60.76% of the stock is currently owned by corporate insiders.

About Globalstar

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.