Globalstar (NASDAQ:GSAT) CFO Rebecca Clary Sells 16,316 Shares

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 16,316 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $58.32, for a total value of $951,549.12. Following the completion of the sale, the chief financial officer owned 98,374 shares of the company’s stock, valued at approximately $5,737,171.68. This represents a 14.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rebecca Clary also recently made the following trade(s):

• On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The stock was sold at an average price of $60.84, for a total value of $72,277.92.
• On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The shares were sold at an average price of $61.34, for a total value of $3,435.04.
• On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The shares were sold at an average price of $48.31, for a total value of $220,873.32.
• On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The stock was sold at an average price of $44.43, for a total value of $192,515.19.
• On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The stock was sold at an average price of $35.01, for a total value of $73,521.00.
• On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The shares were sold at an average price of $29.75, for a total transaction of $159,430.25.

Globalstar Stock Down 6.0%

GSAT opened at $59.19 on Tuesday. The firm’s 50 day moving average price is $43.54. Globalstar, Inc. has a 52-week low of $17.24 and a 52-week high of $65.52. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of -131.53 and a beta of 1.00.

Globalstar (NASDAQ:GSAT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Globalstar had a negative net margin of 17.80% and a negative return on equity of 1.17%. The business had revenue of $73.85 million during the quarter. During the same period in the previous year, the business posted $0.06 earnings per share. Globalstar’s revenue for the quarter was up 2.1% on a year-over-year basis. Globalstar has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GSAT. Acadian Asset Management LLC acquired a new stake in shares of Globalstar during the 1st quarter valued at approximately $99,000. Magnus Financial Group LLC increased its stake in Globalstar by 1.7% during the second quarter. Magnus Financial Group LLC now owns 195,745 shares of the company’s stock valued at $4,610,000 after purchasing an additional 3,333 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Globalstar during the second quarter worth $3,037,000. Y Intercept Hong Kong Ltd bought a new position in shares of Globalstar in the 2nd quarter worth about $343,000. Finally, Palogic Value Management L.P. acquired a new position in shares of Globalstar in the 2nd quarter valued at about $1,178,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GSAT. B. Riley boosted their price target on Globalstar from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Globalstar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $75.00.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.