Globalstar (NASDAQ:GSAT) CFO Sells $159,430.25 in Stock

Key Points

• Globalstar CFO Rebecca Clary sold 5,359 shares of stock for $159,430.25, reducing her ownership to 107,761 shares.
• Globalstar's stock price has increased by 4.1%, reaching $31.17, despite a trading volume below average.
• Institutional investors have shown significant interest in Globalstar, with Osaic Holdings Inc. increasing its stake by 640.4% in the second quarter.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 5,359 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $29.75, for a total transaction of $159,430.25. Following the completion of the transaction, the chief financial officer directly owned 107,761 shares of the company's stock, valued at $3,205,889.75. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Globalstar Stock Up 4.1%

Shares of GSAT stock traded up $1.23 on Monday, reaching $31.17. The company had a trading volume of 1,040,078 shares, compared to its average volume of 1,180,625. The company has a current ratio of 2.81, a quick ratio of 2.72 and a debt-to-equity ratio of 1.30. Globalstar, Inc. has a one year low of $15.00 and a one year high of $41.10. The firm has a 50-day simple moving average of $27.61.

Globalstar (NASDAQ:GSAT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.22. Globalstar had a negative net margin of 17.80% and a negative return on equity of 1.17%. Globalstar has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Globalstar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its stake in Globalstar by 640.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,302 shares of the company's stock valued at $78,000 after acquiring an additional 2,856 shares during the period. MRP Capital Investments LLC bought a new stake in Globalstar in the 2nd quarter valued at about $64,000. State of Wyoming raised its stake in Globalstar by 82.3% in the 2nd quarter. State of Wyoming now owns 3,963 shares of the company's stock valued at $93,000 after acquiring an additional 1,789 shares during the period. Tower Research Capital LLC TRC raised its stake in Globalstar by 394.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,745 shares of the company's stock valued at $159,000 after acquiring an additional 5,382 shares during the period. Finally, Cannell Capital LLC raised its stake in Globalstar by 1.1% in the 2nd quarter. Cannell Capital LLC now owns 51,320 shares of the company's stock valued at $1,209,000 after acquiring an additional 580 shares during the period. 18.89% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GSAT shares. Wall Street Zen upgraded shares of Globalstar from a "sell" rating to a "hold" rating in a report on Monday, June 23rd. Zacks Research raised shares of Globalstar to a "strong-buy" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Globalstar has a consensus rating of "Strong Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.