Linden Thomas Advisory Services LLC Has $2.19 Million Position in Globalstar, Inc. (NYSE:GSAT)

Linden Thomas Advisory Services LLC lowered its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,960 shares of the company’s stock after selling 13,192 shares during the quarter. Linden Thomas Advisory Services LLC owned about 0.06% of Globalstar worth $2,190,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC grew its position in Globalstar by 0.3% during the third quarter. FMR LLC now owns 3,375,719 shares of the company’s stock worth $4,422,000 after buying an additional 10,491 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Globalstar by 6.5% in the 3rd quarter. New York State Common Retirement Fund now owns 223,895 shares of the company’s stock valued at $293,000 after purchasing an additional 13,740 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Globalstar by 1.1% in the 3rd quarter. Swiss National Bank now owns 1,594,154 shares of the company’s stock valued at $2,088,000 after purchasing an additional 17,000 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Globalstar in the 3rd quarter valued at $25,000. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Globalstar by 16.2% in the 4th quarter. HighMark Wealth Management LLC now owns 143,500 shares of the company’s stock valued at $278,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Price Performance

Shares of GSAT traded up $0.04 during trading hours on Tuesday, reaching $1.30. The stock had a trading volume of 1,071,213 shares, compared to its average volume of 4,242,867. Globalstar, Inc. has a 12 month low of $0.85 and a 12 month high of $2.13. The stock has a market capitalization of $2.45 billion, a PE ratio of -130.00 and a beta of 0.84. 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 company’s 50-day moving average is $1.35 and its two-hundred day moving average is $1.51.

Globalstar (NYSE:GSAT) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. Globalstar had a negative net margin of 14.61% and a negative return on equity of 6.43%. The firm had revenue of $52.41 million during the quarter, compared to the consensus estimate of $53.06 million. Research analysts expect that Globalstar, Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director James F. Lynch bought 660,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average cost of $1.31 per share, with a total value of $864,600.00. Following the transaction, the director now directly owns 9,700,720 shares in the company, valued at $12,707,943.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 1,980,000 shares of company stock valued at $2,765,400 in the last three months. Insiders own 62.00% of the company’s stock.

Globalstar 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.