Andrew Hill Investment Advisors Inc. Takes Position in Globalstar, Inc. (NYSE:GSAT)

Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Globalstar, Inc. (NYSE:GSAT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 185,395 shares of the company’s stock, valued at approximately $360,000.

Several other large investors have also recently modified their holdings of the business. HighMark Wealth Management LLC raised its stake in Globalstar by 16.2% during the fourth quarter. HighMark Wealth Management LLC now owns 143,500 shares of the company’s stock worth $278,000 after buying an additional 20,000 shares during the last quarter. KPP Advisory Services LLC bought a new stake in Globalstar in the fourth quarter valued at $39,000. Pure Financial Advisors LLC bought a new stake in Globalstar in the fourth quarter valued at $97,000. Vanguard Group Inc. increased its stake in Globalstar by 0.6% in the third quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock valued at $90,642,000 after purchasing an additional 418,008 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Globalstar by 1,099.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 153,830 shares of the company’s stock valued at $202,000 after purchasing an additional 141,000 shares in the last quarter. Institutional investors own 18.89% of the company’s stock.

Globalstar Stock Performance

GSAT stock traded down $0.02 during mid-day trading on Friday, hitting $1.23. The company had a trading volume of 1,337,393 shares, compared to its average volume of 4,283,826. The stock’s fifty day moving average price is $1.36 and its two-hundred day moving average price is $1.53. Globalstar, Inc. has a 12 month low of $0.85 and a 12 month high of $2.13. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market cap of $2.32 billion, a PE ratio of -123.00 and a beta of 0.84.

Globalstar (NYSE:GSAT) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. Globalstar had a negative return on equity of 6.43% and a negative net margin of 14.61%. The company had revenue of $52.41 million during the quarter, compared to analysts’ expectations of $53.06 million. On average, analysts forecast that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Globalstar

In other Globalstar news, Director James F. Lynch purchased 660,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $1.46 per share, with a total value of $963,600.00. Following the transaction, the director now directly owns 12,340,720 shares in the company, valued at approximately $18,017,451.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders purchased 1,980,000 shares of company stock valued at $2,765,400. Company insiders own 62.00% of the company’s stock.

Globalstar Company Profile

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.