Barclays PLC Raises Holdings in Globalstar, Inc. (NYSEARCA:GSAT)

Barclays PLC raised its holdings in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 36.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,270,443 shares of the company’s stock after buying an additional 340,476 shares during the period. Barclays PLC owned about 0.07% of Globalstar worth $1,575,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC boosted its position in Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after buying an additional 1,102,776 shares during the last quarter. XTX Topco Ltd boosted its holdings in Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after purchasing an additional 949,025 shares during the last quarter. State Street Corp grew its stake in Globalstar by 3.4% during the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock valued at $21,804,000 after purchasing an additional 580,305 shares in the last quarter. Geode Capital Management LLC increased its holdings in Globalstar by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock worth $20,852,000 after purchasing an additional 382,288 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Globalstar by 12.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,791,176 shares of the company’s stock valued at $3,126,000 after purchasing an additional 307,357 shares in the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on GSAT. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Craig Hallum lifted their price target on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Globalstar Stock Performance

NYSEARCA GSAT opened at $1.89 on Friday. The company has a market capitalization of $3.59 billion, a PE ratio of -63.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The firm has a fifty day moving average of $2.05. Globalstar, Inc. has a 1 year low of $1.00 and a 1 year high of $2.74.

Insider Buying and Selling at Globalstar

In other Globalstar news, VP Timothy Evan Taylor sold 3,500,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $2.22, for a total transaction of $7,770,000.00. Following the completion of the sale, the vice president now directly owns 6,383,649 shares in the company, valued at approximately $14,171,700.78. This trade represents a 35.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul E. Jacobs sold 14,539 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $2.19, for a total value of $31,840.41. Following the completion of the transaction, the chief executive officer now owns 84,815 shares in the company, valued at $185,744.85. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,030,000 shares of company stock valued at $5,987,000 and sold 3,680,851 shares valued at $8,136,154. Insiders own 61.00% of the company’s stock.

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.