Globalstar (NASDAQ:GSAT) CFO Rebecca Clary Sells 762 Shares

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 762 shares of Globalstar stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total value of $43,670.22. Following the completion of the transaction, the chief financial officer owned 110,254 shares of the company’s stock, valued at approximately $6,318,656.74. The trade was a 0.69% 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 Tuesday, March 10th, Rebecca Clary sold 351 shares of Globalstar stock. The stock was sold at an average price of $55.38, for a total value of $19,438.38.
• On Monday, December 29th, Rebecca Clary sold 1,260 shares of Globalstar stock. The shares were sold at an average price of $61.42, for a total value of $77,389.20.
• On Monday, December 22nd, Rebecca Clary sold 420 shares of Globalstar stock. The stock was sold at an average price of $63.01, for a total value 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.

Globalstar Stock Performance

Globalstar stock traded up $1.63 during mid-day trading on Friday, hitting $58.74. 260,042 shares of the company’s stock traded hands, compared to its average volume of 624,500. The company has a quick ratio of 2.37, a current ratio of 2.42 and a debt-to-equity ratio of 1.27. Globalstar, Inc. has a one year low of $17.24 and a one year high of $74.88. The firm has a 50 day moving average price of $60.84 and a 200 day moving average price of $53.04. The company has a market cap of $7.55 billion, a PE ratio of -390.53, a price-to-earnings-growth ratio of 94.02 and a beta of 1.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its holdings in Globalstar by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,106 shares of the company’s stock worth $1,219,000 after buying an additional 248 shares during the last quarter. Clearstead Trust LLC lifted its stake in Globalstar by 20.7% in the fourth quarter. Clearstead Trust LLC now owns 2,131 shares of the company’s stock valued at $130,000 after acquiring an additional 366 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Globalstar in the fourth quarter valued at approximately $26,000. NewEdge Advisors LLC grew its position in Globalstar by 85.1% in the fourth quarter. NewEdge Advisors LLC now owns 935 shares of the company’s stock worth $57,000 after acquiring an additional 430 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Globalstar in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GSAT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a report on Monday, December 29th. Craig Hallum reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Globalstar in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globalstar in a report on Tuesday, December 16th. They issued a “hold” rating and a $62.00 target price on the stock. Finally, Zacks Research cut shares of Globalstar from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Globalstar presently has a consensus rating of “Hold” and an average target price of $69.00.

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.