James Monroe III Buys 209,546 Shares of Globalstar, Inc. (NYSEARCA:GSAT) Stock

Globalstar, Inc. (NYSEARCA:GSAT) Director James Monroe III bought 209,546 shares of the company’s stock in a transaction on Friday, March 28th. The shares were acquired at an average price of $22.52 per share, with a total value of $4,718,975.92. Following the transaction, the director now directly owns 790,097 shares of the company’s stock, valued at approximately $17,792,984.44. This trade represents a 36.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

James Monroe III also recently made the following trade(s):

• On Thursday, March 20th, James Monroe III purchased 25,000 shares of Globalstar stock. The shares were acquired at an average cost of $21.83 per share, with a total value of $545,750.00.
• On Tuesday, March 18th, James Monroe III acquired 25,000 shares of Globalstar stock. The stock was acquired at an average cost of $20.80 per share, for a total transaction of $520,000.00.

Globalstar Stock Performance

GSAT stock opened at $21.28 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. Globalstar, Inc. has a 1-year low of $15.00 and a 1-year high of $41.10. The business has a 50-day moving average price of $15.49 and a 200 day moving average price of $7.10. The company has a market capitalization of $40.31 billion, a P/E ratio of -709.33 and a beta of 1.07.

Institutional Investors Weigh In On Globalstar

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Globalstar by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 75,335,688 shares of the company’s stock worth $155,945,000 after buying an additional 540,882 shares in the last quarter. Greenhouse Funds LLLP raised its position in shares of Globalstar by 14.2% in the 4th quarter. Greenhouse Funds LLLP now owns 26,492,248 shares of the company’s stock worth $54,839,000 after acquiring an additional 3,300,470 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Globalstar during the 4th quarter worth $36,997,000. State Street Corp lifted its stake in shares of Globalstar by 3.4% during the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Globalstar by 2.3% during the third quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after purchasing an additional 382,288 shares in the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. B. Riley upped their target price on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Craig Hallum decreased their price target on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th.

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.