James Monroe III Buys 4,510,855 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSAT) Director James Monroe III bought 4,510,855 shares of the stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $1.06 per share, with a total value of $4,781,506.30. Following the completion of the acquisition, the director now directly owns 8,708,254 shares in the company, valued at approximately $9,230,749.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Globalstar Stock Performance

Globalstar stock traded down $0.02 during midday trading on Monday, hitting $1.11. 1,565,605 shares of the company’s stock were exchanged, compared to its average volume of 3,818,996. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.97. The firm has a market cap of $2.10 billion, a P/E ratio of -56.25 and a beta of 0.90. The business’s 50-day moving average price is $1.09. Globalstar, Inc. has a 12 month low of $1.01 and a 12 month high of $2.13.

Globalstar (NYSE:GSAT) last announced its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $56.48 million for the quarter, compared to analysts’ expectations of $52.92 million. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. As a group, equities analysts expect that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GSAT. Abel Hall LLC purchased a new stake in shares of Globalstar during the fourth quarter worth about $26,000. Empowered Funds LLC acquired a new stake in Globalstar in the 1st quarter worth approximately $26,000. Grant Street Asset Management Inc. purchased a new stake in Globalstar during the 1st quarter worth approximately $29,000. Second Line Capital LLC acquired a new position in Globalstar during the 1st quarter valued at approximately $34,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of Globalstar in the fourth quarter worth $35,000. Institutional investors own 18.89% 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.