Rebecca Clary Sells 1,260 Shares of Globalstar (NASDAQ:GSAT) Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 1,260 shares of Globalstar stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $61.42, for a total transaction of $77,389.20. Following the transaction, the chief financial officer directly owned 108,123 shares in the company, valued at $6,640,914.66. This trade represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rebecca Clary also recently made the following trade(s):

• On Monday, December 22nd, Rebecca Clary sold 420 shares of Globalstar stock. The shares were sold at an average price of $63.01, for a total transaction of $26,464.20.
• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total transaction of $273,514.56.
• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The shares were sold at an average price of $56.64, for a total transaction of $273,514.56.
• On Monday, December 8th, Rebecca Clary sold 1,221 shares of Globalstar stock. The stock was sold at an average price of $67.88, for a total value of $82,881.48.
• On Monday, December 1st, Rebecca Clary sold 4,380 shares of Globalstar stock. The stock was sold at an average price of $59.92, for a total value of $262,449.60.
• On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The shares were sold at an average price of $58.32, for a total value of $951,549.12.
• On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The shares were sold at an average price of $60.84, for a total value of $72,277.92.
• On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The stock was sold at an average price of $61.34, for a total value of $3,435.04.
• On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The shares were sold at an average price of $48.31, for a total transaction of $220,873.32.
• On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The shares were sold at an average price of $44.43, for a total transaction of $192,515.19.

Globalstar Price Performance

Shares of GSAT opened at $61.72 on Wednesday. The firm has a 50-day simple moving average of $58.84 and a two-hundred day simple moving average of $40.46. The stock has a market cap of $7.83 billion, a PE ratio of -134.17 and a beta of 1.08. Globalstar, Inc. has a 1-year low of $17.24 and a 1-year high of $74.88. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.53 and a quick ratio of 2.46.

Globalstar (NASDAQ:GSAT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. Globalstar had a negative net margin of 21.07% and a negative return on equity of 3.67%. The firm had revenue of $73.85 million for the quarter. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GSAT. Deutsche Bank Aktiengesellschaft assumed coverage on Globalstar in a report on Tuesday, December 16th. They issued a “hold” rating and a $62.00 price objective on the stock. Zacks Research cut shares of Globalstar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. B. Riley lifted their price objective on shares of Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research note on Monday. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.50.

Hedge Funds Weigh In On Globalstar

A number of institutional investors and hedge funds have recently made changes to their positions in GSAT. Vanguard Group Inc. increased its stake in shares of Globalstar by 2.8% during the third quarter. Vanguard Group Inc. now owns 5,233,721 shares of the company’s stock worth $190,455,000 after buying an additional 141,451 shares during the period. Greenhouse Funds LLLP grew its holdings in Globalstar by 6.1% during the 3rd quarter. Greenhouse Funds LLLP now owns 2,149,192 shares of the company’s stock worth $78,209,000 after acquiring an additional 123,676 shares in the last quarter. Ashford Capital Management Inc. grew its holdings in Globalstar by 3.8% during the 3rd quarter. Ashford Capital Management Inc. now owns 1,409,321 shares of the company’s stock worth $51,285,000 after acquiring an additional 51,703 shares in the last quarter. Senvest Management LLC increased its position in shares of Globalstar by 51.6% in the 2nd quarter. Senvest Management LLC now owns 1,330,533 shares of the company’s stock valued at $31,334,000 after purchasing an additional 452,624 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Globalstar by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,274,523 shares of the company’s stock valued at $30,019,000 after purchasing an additional 20,514 shares in the last quarter. 18.89% of the stock is owned by institutional investors and hedge funds.

Globalstar Company Profile

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.