Xponance Inc. Acquires 8,494 Shares of Globalstar, Inc. (NYSEARCA:GSAT)

Xponance Inc. lifted its holdings in Globalstar, Inc. (NYSEARCA:GSAT) by 17.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,330 shares of the company’s stock after acquiring an additional 8,494 shares during the period. Xponance Inc.’s holdings in Globalstar were worth $117,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of GSAT. PFG Investments LLC acquired a new stake in shares of Globalstar during the 4th quarter worth $25,000. IRON Financial LLC bought a new stake in Globalstar during the fourth quarter worth about $29,000. Sequoia Financial Advisors LLC acquired a new stake in Globalstar during the fourth quarter worth about $35,000. Vontobel Holding Ltd. bought a new position in Globalstar in the 4th quarter valued at about $41,000. Finally, Masso Torrence Wealth Management Inc. acquired a new position in shares of Globalstar in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Trading Down 5.5 %

NYSEARCA GSAT opened at $21.28 on Friday. The firm has a market capitalization of $40.31 billion, a PE ratio of -709.33 and a beta of 1.07. The business’s 50-day moving average price is $15.49 and its two-hundred day moving average price is $7.10. 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 $15.00 and a 12 month high of $41.10.

Wall Street Analysts Forecast Growth

GSAT has been the topic of several analyst reports. B. Riley increased their price target on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Morgan Stanley raised their target price on Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, Craig Hallum lowered their price target on Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th.

Insider Activity at Globalstar

In related news, CEO Paul E. Jacobs sold 14,539 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $2.19, for a total value of $31,840.41. Following the transaction, the chief executive officer now owns 84,815 shares in the company, valued at $185,744.85. The trade was a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Monroe III purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were acquired at an average price of $20.80 per share, with a total value of $520,000.00. Following the completion of the acquisition, the director now owns 847,273 shares in the company, valued at approximately $17,623,278.40. This trade represents a 3.04 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 259,546 shares of company stock worth $5,784,726 and have sold 48,796 shares worth $787,368. 60.76% of the stock is currently owned by company insiders.

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.