AtonRa Partners lessened its stake in shares of Globalstar, Inc. (NYSE:GSAT – Free Report) by 13.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 218,800 shares of the company’s stock after selling 34,125 shares during the quarter. AtonRa Partners’ holdings in Globalstar were worth $424,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of GSAT. Private Advisor Group LLC purchased a new stake in shares of Globalstar in the third quarter valued at $25,000. Jump Financial LLC purchased a new position in shares of Globalstar during the third quarter valued at approximately $39,000. Evergreen Capital Management LLC bought a new position in shares of Globalstar during the third quarter valued at approximately $53,000. EP Wealth Advisors LLC grew its stake in shares of Globalstar by 141.3% during the third quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock valued at $53,000 after buying an additional 23,748 shares during the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new stake in shares of Globalstar in the third quarter worth approximately $79,000. 18.89% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, Director James F. Lynch bought 660,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was acquired at an average cost of $1.42 per share, with a total value of $937,200.00. Following the transaction, the director now directly owns 11,020,720 shares in the company, valued at approximately $15,649,422.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 1,980,000 shares of company stock valued at $2,765,400 over the last quarter. 62.00% of the stock is owned by corporate insiders.
Globalstar Trading Up 0.8 %
Globalstar (NYSE:GSAT – Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. Globalstar had a negative return on equity of 6.43% and a negative net margin of 14.61%. The company had revenue of $52.41 million during the quarter, compared to the consensus estimate of $53.06 million. As a group, research analysts forecast that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Separately, StockNews.com downgraded Globalstar from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th.
Get Our Latest Stock Analysis on GSAT
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.
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