Globalstar (NASDAQ:GSAT) CFO Sells $19,438.38 in Stock

Key Points

• Rebecca Clary, Globalstar's CFO, sold 351 shares on March 10 at an average price of $55.38 for $19,438.38, leaving her with 109,459 shares valued at about $6.06M (a 0.32% reduction).
• The March sale continues recent insider dispositions by Clary, including December sales of 1,260 shares at $61.42, 420 shares at $63.01 and two entries of 4,829 shares at $56.64, indicating notable insider selling activity.
• Shares traded around $58.77 mid-day (one‑year range $17.24–$74.88) with a market cap near $7.55B, and analysts are mixed—MarketBeat shows a consensus "Hold" with a $69 average target.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 351 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $55.38, for a total transaction of $19,438.38. Following the transaction, the chief financial officer directly owned 109,459 shares of the company's stock, valued at approximately $6,061,839.42. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, December 29th, Rebecca Clary sold 1,260 shares of Globalstar stock. The shares were sold at an average price of $61.42, for a total value of $77,389.20.
• On Monday, December 22nd, Rebecca Clary sold 420 shares of Globalstar stock. The shares were sold at an average price of $63.01, for a total value of $26,464.20.
• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total value of $273,514.56.
• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total value of $273,514.56.

Globalstar Stock Performance

Shares of GSAT traded up $2.11 during mid-day trading on Tuesday, hitting $58.77. The company's stock had a trading volume of 407,796 shares, compared to its average volume of 640,400. Globalstar, Inc. has a one year low of $17.24 and a one year high of $74.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.37 and a current ratio of 2.42. The firm has a market capitalization of $7.55 billion, a PE ratio of -391.77, a price-to-earnings-growth ratio of 92.15 and a beta of 1.43. The stock's 50-day moving average is $61.05 and its two-hundred day moving average is $52.76.

Institutional Trading of Globalstar

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Broad Bay Capital Management LP bought a new position in shares of Globalstar in the second quarter valued at about $18,405,000. Marshall Wace LLP grew its holdings in Globalstar by 2,093.4% during the 2nd quarter. Marshall Wace LLP now owns 777,728 shares of the company's stock worth $18,315,000 after acquiring an additional 742,271 shares during the last quarter. Senvest Management LLC grew 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 worth $31,334,000 after acquiring an additional 452,624 shares during the last quarter. UBS Group AG increased its position in Globalstar by 166.9% in the 4th quarter. UBS Group AG now owns 526,566 shares of the company's stock valued at $32,142,000 after acquiring an additional 329,270 shares in the last quarter. Finally, Defiance ETFs LLC bought a new position in shares of Globalstar in the fourth quarter worth about $19,461,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GSAT shares. Craig Hallum reissued a "buy" rating and issued a $70.00 price target on shares of Globalstar in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globalstar in a report on Tuesday, December 16th. They set a "hold" rating and a $62.00 price objective for the company. Zacks Research cut shares of Globalstar from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Globalstar in a research report on Monday, December 29th. Finally, B. Riley Financial raised their price target on shares of Globalstar from $60.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Globalstar presently has an average rating of "Hold" and a consensus target price of $69.00.

About Globalstar

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.

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