Robertson Stephens Wealth Management LLC Acquires 30,000 Shares of Globalstar, Inc. (NYSEARCA:GSAT)

Robertson Stephens Wealth Management LLC raised its holdings in Globalstar, Inc. (NYSEARCA:GSAT) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,271,500 shares of the company’s stock after acquiring an additional 30,000 shares during the period. Robertson Stephens Wealth Management LLC owned about 0.12% of Globalstar worth $4,702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its position in Globalstar by 36.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 30,200 shares of the company’s stock valued at $63,000 after acquiring an additional 8,000 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Globalstar by 15.3% in the fourth quarter. Flagship Harbor Advisors LLC now owns 71,741 shares of the company’s stock valued at $149,000 after acquiring an additional 9,506 shares during the last quarter. PFG Investments LLC bought a new position in Globalstar in the fourth quarter valued at about $25,000. IRON Financial LLC bought a new position in Globalstar in the fourth quarter valued at about $29,000. Finally, Inspire Investing LLC grew its holdings in shares of Globalstar by 4.7% during the third quarter. Inspire Investing LLC now owns 333,479 shares of the company’s stock worth $414,000 after purchasing an additional 14,862 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

Insider Buying and Selling at Globalstar

In other Globalstar news, CEO Paul E. Jacobs sold 14,539 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $2.19, for a total transaction of $31,840.41. Following the transaction, the chief executive officer now directly owns 84,815 shares in the company, valued at approximately $185,744.85. This trade represents a 14.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rebecca Clary sold 37,688 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $2.13, for a total value of $80,275.44. Following the transaction, the chief financial officer now owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,030,000 shares of company stock worth $5,987,000 and have sold 3,680,851 shares worth $8,136,154. Company insiders own 60.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Craig Hallum upped their target price on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Globalstar Stock Up 2.6 %

Shares of GSAT opened at $1.58 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average price of $1.95. Globalstar, Inc. has a 12-month low of $1.00 and a 12-month high of $2.74. The company has a market cap of $2.99 billion, a PE ratio of -52.67 and a beta of 1.07.

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.