BNP Paribas Financial Markets Has $407,000 Holdings in Globalstar, Inc. (NYSE:GSAT)

BNP Paribas Financial Markets increased its position in shares of Globalstar, Inc. (NYSE:GSAT) by 26.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 328,298 shares of the company’s stock after purchasing an additional 68,599 shares during the quarter. BNP Paribas Financial Markets’ holdings in Globalstar were worth $407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in Globalstar by 32.7% during the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after purchasing an additional 1,102,776 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Globalstar during the third quarter worth about $56,000. Institutional investors own 18.89% of the company’s stock.

Analyst Upgrades and Downgrades

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

Globalstar Stock Down 2.5 %

GSAT opened at $1.95 on Friday. The company has a market capitalization of $3.69 billion, a PE ratio of -65.00 and a beta of 1.10. 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 twelve month low of $1.00 and a twelve month high of $2.74. The business’s 50-day moving average price is $1.92.

Insider Transactions at Globalstar

In other Globalstar news, Director James Monroe III acquired 530,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $1.90 per share, for a total transaction of $1,007,000.00. Following the acquisition, the director now directly owns 6,834,090 shares in the company, valued at $12,984,771. This represents a 8.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Timothy Evan Taylor sold 3,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $2.22, for a total transaction of $7,770,000.00. Following the completion of the transaction, the vice president now owns 6,383,649 shares of the company’s stock, valued at approximately $14,171,700.78. This trade represents a 35.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,666,312 shares of company stock valued at $8,104,313. 61.00% of the stock is currently owned by insiders.

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.