Globalstar, Inc. (NYSEARCA:GSAT) Shares Bought by Ashford Capital Management Inc.

Ashford Capital Management Inc. lifted its stake in Globalstar, Inc. (NYSEARCA:GSAT) by 68.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,369,340 shares of the company’s stock after buying an additional 5,047,600 shares during the period. Globalstar makes up 3.0% of Ashford Capital Management Inc.’s portfolio, making the stock its 11th biggest position. Ashford Capital Management Inc. owned 0.65% of Globalstar worth $25,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Globalstar by 0.7% in the 4th 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 increased its position in shares of Globalstar by 14.2% during the fourth 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 during the last quarter. Capital Research Global Investors purchased a new stake in shares of Globalstar during the fourth quarter worth about $36,997,000. Wolf Hill Capital Management LP lifted its stake in shares of Globalstar by 80.0% in the fourth quarter. Wolf Hill Capital Management LP now owns 13,050,023 shares of the company’s stock worth $27,014,000 after acquiring an additional 5,799,366 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Globalstar by 0.5% in the fourth quarter. Northern Trust Corp now owns 6,695,810 shares of the company’s stock valued at $13,860,000 after purchasing an additional 35,289 shares during the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GSAT. B. Riley upped their target price on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Craig Hallum dropped 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. Finally, Morgan Stanley upped their price target on shares of Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th.

Insider Buying and Selling

In other Globalstar news, CEO Paul E. Jacobs sold 7,087 shares of Globalstar stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $22.15, for a total value of $156,977.05. Following the transaction, the chief executive officer now owns 12,374 shares in the company, valued at approximately $274,084.10. The trade was a 36.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James Monroe III acquired 50,000 shares of Globalstar stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $18.56 per share, with a total value of $928,000.00. Following the completion of the purchase, the director now owns 58,758,076 shares in the company, valued at approximately $1,090,549,890.56. This represents a 0.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 334,546 shares of company stock valued at $7,181,976 and have sold 34,257 shares valued at $755,528. 60.76% of the stock is owned by corporate insiders.

Globalstar Stock Up 0.2%

GSAT stock opened at $18.38 on Tuesday. The firm’s 50-day moving average is $20.03 and its two-hundred day moving average is $11.35. 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 company has a market capitalization of $34.82 billion, a price-to-earnings ratio of -612.67 and a beta of 1.07. Globalstar, Inc. has a 52 week low of $15.00 and a 52 week high of $41.10.

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.