Intellectus Partners LLC Grows Position in Globalstar, Inc. (NYSE:GSAT)

Intellectus Partners LLC increased its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,210 shares of the company’s stock after buying an additional 9,000 shares during the period. Intellectus Partners LLC’s holdings in Globalstar were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GSAT. Private Advisor Group LLC acquired a new position in shares of Globalstar during the 3rd quarter worth $25,000. Jump Financial LLC purchased a new stake in shares of Globalstar in the third quarter valued at $39,000. Evergreen Capital Management LLC acquired a new position in Globalstar in the 3rd quarter valued at about $53,000. EP Wealth Advisors LLC boosted its stake in shares of Globalstar by 141.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock worth $53,000 after purchasing an additional 23,748 shares during the last quarter. Finally, Stratos Wealth Advisors LLC acquired a new stake in shares of Globalstar during the 3rd quarter worth about $79,000. 18.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Globalstar

In related news, Director James F. Lynch bought 660,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $1.42 per share, with a total value of $937,200.00. Following the transaction, the director now owns 11,020,720 shares of the company’s stock, valued at $15,649,422.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased 1,980,000 shares of company stock valued at $2,765,400 over the last ninety days. Corporate insiders own 61.00% of the company’s stock.

Globalstar Stock Down 0.8 %

Shares of NYSE:GSAT opened at $1.29 on Monday. Globalstar, Inc. has a 52-week low of $0.85 and a 52-week high of $2.13. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.81 and a quick ratio of 0.73. The firm has a market capitalization of $2.43 billion, a P/E ratio of -129.00 and a beta of 0.84. The firm has a 50 day moving average price of $1.33.

Globalstar (NYSE:GSAT) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter. Globalstar had a negative net margin of 14.61% and a negative return on equity of 6.43%. The business had revenue of $52.41 million for the quarter, compared to analyst estimates of $53.06 million. On average, equities analysts anticipate that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com cut Globalstar from a “hold” rating to a “sell” rating in a report on Thursday, February 29th.

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.