Harbor Capital Advisors Inc. trimmed its holdings in Globalstar, Inc. (NYSEARCA:GSAT – Free Report) by 37.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,719 shares of the company’s stock after selling 181,036 shares during the period. Harbor Capital Advisors Inc.’s holdings in Globalstar were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new position in shares of Globalstar in the third quarter worth $27,000. XTX Topco Ltd bought a new position in shares of Globalstar in the second quarter worth $31,000. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Globalstar in the third quarter worth $39,000. Procyon Advisors LLC purchased a new position in Globalstar in the third quarter worth $47,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Globalstar in the third quarter worth $56,000. 18.89% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
GSAT has been the subject of several research reports. Craig Hallum upped their target price on shares of Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.
Globalstar Stock Performance
Shares of NYSEARCA:GSAT opened at $1.80 on Tuesday. The stock has a fifty day moving average of $2.04. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. Globalstar, Inc. has a 52-week low of $1.00 and a 52-week high of $2.74. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -60.00 and a beta of 0.88.
Insider Buying and Selling at Globalstar
In other Globalstar news, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total transaction of $173,700.00. Following the completion of the sale, the director now directly owns 848,668 shares in the company, valued at $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rebecca Clary sold 37,688 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $2.13, for a total transaction of $80,275.44. Following the sale, the chief financial officer now owns 1,396,027 shares of the company’s stock, valued at approximately $2,973,537.51. The trade was a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 3,030,000 shares of company stock worth $5,987,000 and sold 3,680,851 shares worth $8,136,154. Company insiders own 61.00% of the company’s stock.
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.
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