Victory Capital Management Inc. raised its position in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 108.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 215,736 shares of the Wireless communications provider’s stock after purchasing an additional 112,198 shares during the quarter. Victory Capital Management Inc.’s holdings in Globalstar were worth $291,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Zeke Capital Advisors LLC acquired a new stake in shares of Globalstar during the 1st quarter worth approximately $40,000. Valeo Financial Advisors LLC acquired a new stake in shares of Globalstar during the 1st quarter worth approximately $42,000. KBC Group NV acquired a new stake in shares of Globalstar during the 1st quarter worth approximately $49,000. GPS Wealth Strategies Group LLC acquired a new stake in shares of Globalstar during the 1st quarter worth approximately $50,000. Finally, Brighton Jones LLC acquired a new stake in shares of Globalstar during the 4th quarter worth approximately $35,000. 13.48% of the stock is owned by institutional investors and hedge funds.
NYSEAMERICAN GSAT opened at $1.27 on Friday. The company has a fifty day simple moving average of $0.34. Globalstar, Inc. has a 12-month low of $0.29 and a 12-month high of $2.98. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2.28 billion, a P/E ratio of -25.40 and a beta of -0.01.
Separately, TheStreet downgraded shares of Globalstar from a “c-” rating to a “d+” rating in a research report on Monday, April 19th.
Globalstar, Inc engages in the provision of mobile satellite services. It offers voice and data communications services to following markets: recreation and personal; government; public safety and disaster relief; oil and gas; maritime and fishing; natural resources, mining, and forestry; construction; utilities; and transportation.
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