Globalstar, Inc. (NYSEARCA:GSAT) Shares Purchased by Sender Co & Partners Inc.

Sender Co & Partners Inc. raised its holdings in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 199.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 255,035 shares of the company’s stock after purchasing an additional 169,815 shares during the quarter. Sender Co & Partners Inc.’s holdings in Globalstar were worth $528,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. PFG Investments LLC acquired a new position in shares of Globalstar in the 4th quarter worth approximately $25,000. IRON Financial LLC acquired a new position in Globalstar during the 4th quarter valued at approximately $29,000. Mariner LLC raised its stake in Globalstar by 30.9% during the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock valued at $29,000 after acquiring an additional 3,307 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Globalstar during the 4th quarter valued at $35,000. Finally, Vontobel Holding Ltd. bought a new stake in Globalstar during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Price Performance

Shares of NYSEARCA:GSAT opened at $18.35 on Friday. Globalstar, Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $41.10. The business has a 50-day moving average of $20.11 and a two-hundred day moving average of $11.11. The stock has a market capitalization of $34.76 billion, a P/E ratio of -611.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Analyst Ratings Changes

A number of research firms have recently commented on GSAT. Morgan Stanley boosted their price objective on Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Craig Hallum dropped their price objective on Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, B. Riley boosted their price objective on Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Insider Buying and Selling

In related news, CEO Paul E. Jacobs sold 7,087 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $22.15, for a total transaction of $156,977.05. Following the completion of the transaction, the chief executive officer now owns 12,374 shares of the company’s stock, valued at approximately $274,084.10. The trade was a 36.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Timothy Evan Taylor sold 26,333 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $22.04, for a total value of $580,379.32. Following the transaction, the vice president now directly owns 399,244 shares of the company’s stock, valued at $8,799,337.76. This represents a 6.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 334,546 shares of company stock valued at $7,181,976 and sold 34,257 shares valued at $755,528. 60.76% of the stock is owned by insiders.

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.