Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 4,333 shares of the stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $44.43, for a total value of $192,515.19. Following the completion of the transaction, the chief financial officer directly owned 110,852 shares in the company, valued at approximately $4,925,154.36. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Rebecca Clary also recently made the following trade(s):
- On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The shares were 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 stock was sold at an average price of $29.75, for a total transaction of $159,430.25.
Globalstar Trading Down 0.7%
NASDAQ GSAT traded down $0.29 on Thursday, reaching $44.28. 796,347 shares of the stock were exchanged, compared to its average volume of 843,948. Globalstar, Inc. has a one year low of $15.00 and a one year high of $47.44. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of -98.40 and a beta of 0.99. The firm's 50-day moving average price is $33.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72.
Globalstar (NASDAQ:GSAT - Get Free Report) last released 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. The company had revenue of $67.15 million for the quarter. 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.
Hedge Funds Weigh In On Globalstar
A number of institutional investors and hedge funds have recently modified their holdings of GSAT. Broad Bay Capital Management LP purchased a new position in shares of Globalstar in the 2nd quarter worth approximately $18,405,000. Marshall Wace LLP boosted its holdings in shares of Globalstar by 2,093.4% in the 2nd quarter. Marshall Wace LLP now owns 777,728 shares of the company's stock worth $18,315,000 after purchasing an additional 742,271 shares during the period. Senvest Management LLC boosted its holdings in Globalstar by 51.6% during the 2nd quarter. Senvest Management LLC now owns 1,330,533 shares of the company's stock valued at $31,334,000 after acquiring an additional 452,624 shares during the period. Penserra Capital Management LLC boosted its holdings in Globalstar by 320.9% during the 2nd quarter. Penserra Capital Management LLC now owns 486,521 shares of the company's stock valued at $11,456,000 after acquiring an additional 370,943 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Globalstar by 39.5% during the 2nd quarter. American Century Companies Inc. now owns 1,014,336 shares of the company's stock valued at $23,888,000 after acquiring an additional 287,163 shares during the period. Hedge funds and other institutional investors own 18.89% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on GSAT. Weiss Ratings reissued a "sell (d-)" rating on shares of Globalstar in a research note on Wednesday, October 8th. Zacks Research cut Globalstar from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 7th. Finally, Wall Street Zen upgraded Globalstar from a "sell" rating to a "hold" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce".
Check Out Our Latest Report on GSAT
Globalstar Company Profile
(
Get Free Report)
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.
Further Reading
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