Globalstar (NASDAQ:GSAT) CFO Rebecca Clary Sells 23,250 Shares of Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 23,250 shares of Globalstar stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $86.13, for a total transaction of $2,002,522.50. Following the sale, the chief financial officer owned 73,290 shares of the company’s stock, valued at approximately $6,312,467.70. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, August 14th, Rebecca Clary sold 24,100 shares of Globalstar stock. The stock was sold at an average price of $82.17, for a total transaction of $1,980,297.00.

Globalstar Stock Up 0.2%

Shares of NASDAQ GSAT opened at $86.24 on Friday. Globalstar, Inc. has a fifty-two week low of $53.67 and a fifty-two week high of $86.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.59. The company’s 50 day simple moving average is $83.15 and its 200 day simple moving average is $76.81.

Globalstar (NASDAQ:GSAT) last released its earnings results on Thursday, November 5th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $70.90 million for the quarter. Globalstar had a negative return on equity of 23.10% and a negative net margin of 28.53%. On average, research analysts anticipate that Globalstar, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globalstar

Several large investors have recently bought and sold shares of the company. Senvest Management LLC raised its holdings in Globalstar by 27.7% in the first quarter. Senvest Management LLC now owns 868,946 shares of the company’s stock worth $57,715,000 after purchasing an additional 188,325 shares during the period. Sculptor Capital LP acquired a new position in shares of Globalstar in the 1st quarter valued at $15,742,000. Dimensional Fund Advisors LP grew its holdings in shares of Globalstar by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 231,690 shares of the company’s stock valued at $15,363,000 after buying an additional 16,009 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Globalstar in the 2nd quarter valued at $13,233,000. Finally, New York Life Investment Management LLC increased its position in shares of Globalstar by 5.5% in the 3rd quarter. New York Life Investment Management LLC now owns 81,553 shares of the company’s stock valued at $6,760,000 after buying an additional 4,235 shares in the last quarter. Institutional investors own 18.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GSAT shares. Zacks Research raised Globalstar from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 15th. Craig Hallum lowered Globalstar from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research note on Tuesday, August 18th. Weiss Ratings lowered Globalstar from a “hold (c)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen upgraded Globalstar from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $76.00.

About Globalstar

Globalstar operates a low Earth orbit satellite communications network that provides voice and data connectivity in areas where terrestrial networks may be unavailable. Its services support personal, commercial and government users across land and maritime environments. The company offers satellite phones and data services, as well as products and services for asset tracking, remote monitoring and safety communications. Its SPOT devices provide location-based messaging and emergency notification, while its satellite network also supports Apple satellite features in supported regions.