Rebecca Clary Sells 4,380 Shares of Globalstar (NASDAQ:GSAT) Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 4,380 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $59.92, for a total value of $262,449.60. Following the completion of the transaction, the chief financial officer directly owned 103,518 shares in the company, valued at $6,202,798.56. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The stock was sold at an average price of $58.32, for a total transaction of $951,549.12.
• On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The stock was sold at an average price of $60.84, for a total transaction of $72,277.92.
• On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The stock was sold at an average price of $61.34, for a total transaction of $3,435.04.
• On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The stock was sold at an average price of $48.31, for a total transaction of $220,873.32.
• On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The stock was sold at an average price of $44.43, for a total value of $192,515.19.
• On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The shares were sold at an average price of $35.01, for a total transaction of $73,521.00.
• On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The shares were sold at an average price of $29.75, for a total value of $159,430.25.

Globalstar Stock Performance

NASDAQ GSAT opened at $61.17 on Wednesday. Globalstar, Inc. has a 52-week low of $17.24 and a 52-week high of $65.52. The company has a fifty day moving average of $49.34 and a 200-day moving average of $34.02. The company has a market capitalization of $7.76 billion, a P/E ratio of -132.98 and a beta of 1.08. The company has a debt-to-equity ratio of 1.33, a quick ratio of 2.46 and a current ratio of 2.53.

Globalstar (NASDAQ:GSAT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $73.85 million during the quarter. Globalstar had a negative net margin of 21.07% and a negative return on equity of 3.67%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share.

Wall Street Analyst Weigh In

GSAT has been the subject of a number of recent research reports. Zacks Research lowered Globalstar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. B. Riley boosted their price objective on Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Globalstar in a report on Wednesday, November 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.00.

Institutional Investors Weigh In On Globalstar

Large investors have recently modified their holdings of the stock. Broad Bay Capital Management LP bought a new position in Globalstar in the second quarter worth $18,405,000. Marshall Wace LLP increased its stake in shares of Globalstar by 2,093.4% during the second quarter. Marshall Wace LLP now owns 777,728 shares of the company’s stock valued at $18,315,000 after purchasing an additional 742,271 shares in the last quarter. Senvest Management LLC lifted its holdings in shares of Globalstar by 51.6% during the second quarter. Senvest Management LLC now owns 1,330,533 shares of the company’s stock valued at $31,334,000 after purchasing an additional 452,624 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of Globalstar by 320.9% in the 2nd quarter. Penserra Capital Management LLC now owns 486,521 shares of the company’s stock worth $11,456,000 after purchasing an additional 370,943 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Globalstar by 39.5% in the 2nd quarter. American Century Companies Inc. now owns 1,014,336 shares of the company’s stock worth $23,888,000 after buying an additional 287,163 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

About Globalstar

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.