Globalstar, Inc. (NYSEARCA:GSAT) Shares Purchased by Fort Sheridan Advisors LLC

Fort Sheridan Advisors LLC raised its stake in Globalstar, Inc. (NYSEARCA:GSAT) by 10.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 103,000 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Globalstar were worth $213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. PFG Investments LLC acquired a new stake in shares of Globalstar in the 4th quarter worth about $25,000. CWA Asset Management Group LLC acquired a new stake in shares of Globalstar in the third quarter valued at approximately $27,000. IRON Financial LLC bought a new stake in shares of Globalstar during the fourth quarter valued at approximately $29,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Globalstar during the third quarter worth approximately $39,000. Finally, Vontobel Holding Ltd. bought a new position in Globalstar in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Stock Performance

NYSEARCA GSAT opened at $21.59 on Friday. The business’s 50 day moving average price is $7.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. Globalstar, Inc. has a twelve month low of $15.00 and a twelve month high of $41.10. The stock has a market cap of $40.90 billion, a PE ratio of -719.67 and a beta of 1.07.

Analyst Ratings Changes

GSAT has been the topic of several recent analyst reports. StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum cut their price objective on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday. B. Riley increased their target price on shares of Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price target on shares of Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday.

Insider Transactions at Globalstar

In other news, CFO Rebecca Clary sold 37,688 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $2.13, for a total transaction of $80,275.44. Following the transaction, the chief financial officer now directly owns 1,396,027 shares in the company, valued at $2,973,537.51. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William A. Hasler sold 90,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the sale, the director now owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,030,000 shares of company stock valued at $5,987,000 and sold 3,680,851 shares valued at $8,136,154. 60.76% of the stock is currently owned by insiders.

About Globalstar

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.