Globalstar, Inc. (NYSEARCA:GSAT) Position Boosted by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its position in Globalstar, Inc. (NYSEARCA:GSAT) by 6.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 780,915 shares of the company’s stock after buying an additional 50,630 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Globalstar were worth $1,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. PFG Investments LLC acquired a new stake in Globalstar during the fourth quarter worth about $25,000. IRON Financial LLC acquired a new stake in shares of Globalstar during the 4th quarter worth approximately $29,000. Mariner LLC lifted its holdings in shares of Globalstar by 30.9% in the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock worth $29,000 after purchasing an additional 3,307 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Globalstar during the 4th quarter valued at approximately $35,000. Finally, Vontobel Holding Ltd. bought a new position in Globalstar during the 4th quarter worth $41,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Craig Hallum reduced their target price on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, B. Riley raised their price target on shares of Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th.

Insider Buying and Selling at Globalstar

In other news, VP Timothy Evan Taylor sold 26,333 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $22.04, for a total value of $580,379.32. Following the completion of the sale, the vice president now owns 399,244 shares in the company, valued at $8,799,337.76. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director James Monroe III bought 209,546 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were purchased at an average cost of $22.52 per share, for a total transaction of $4,718,975.92. Following the completion of the acquisition, the director now owns 790,097 shares of the company’s stock, valued at $17,792,984.44. This trade represents a 36.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 259,546 shares of company stock valued at $5,784,726 and sold 34,257 shares valued at $755,528. 60.76% of the stock is currently owned by corporate insiders.

Globalstar Stock Performance

GSAT stock opened at $20.19 on Friday. The company has a 50-day simple moving average of $20.56 and a 200 day simple moving average of $10.55. The company has a market capitalization of $38.24 billion, a P/E ratio of -673.00 and a beta of 1.07. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. Globalstar, Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $41.10.

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.