AtonRa Partners Lowers Stock Holdings in Globalstar, Inc. (NYSE:GSAT)

AtonRa Partners lowered its position in shares of Globalstar, Inc. (NYSE:GSAT) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,800 shares of the company’s stock after selling 34,125 shares during the period. AtonRa Partners’ holdings in Globalstar were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Globalstar by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock worth $90,642,000 after purchasing an additional 418,008 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Globalstar by 1,099.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 153,830 shares of the company’s stock valued at $202,000 after acquiring an additional 141,000 shares during the last quarter. Pure Financial Advisors LLC purchased a new stake in Globalstar during the 4th quarter valued at about $97,000. EP Wealth Advisors LLC grew its position in Globalstar by 141.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock worth $53,000 after acquiring an additional 23,748 shares during the last quarter. Finally, Swiss National Bank lifted its position in Globalstar by 1.1% in the third quarter. Swiss National Bank now owns 1,594,154 shares of the company’s stock valued at $2,088,000 after purchasing an additional 17,000 shares during the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Globalstar Trading Up 0.8 %

Shares of NYSE GSAT traded up $0.01 during trading hours on Monday, hitting $1.30. The company’s stock had a trading volume of 2,320,500 shares, compared to its average volume of 4,154,716. Globalstar, Inc. has a 12 month low of $0.85 and a 12 month high of $2.13. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -130.00 and a beta of 0.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.73 and a current ratio of 0.81. The business has a 50-day simple moving average of $1.33 and a 200-day simple moving average of $1.47.

Globalstar (NYSE:GSAT) last announced its earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. The business had revenue of $52.41 million for the quarter, compared to the consensus estimate of $53.06 million. Globalstar had a negative net margin of 14.61% and a negative return on equity of 6.43%. On average, analysts anticipate that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Globalstar from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th.

Insider Transactions at Globalstar

In related news, Director James F. Lynch purchased 660,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $1.46 per share, with a total value of $963,600.00. Following the completion of the purchase, the director now directly owns 12,340,720 shares in the company, valued at $18,017,451.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 1,980,000 shares of company stock valued at $2,765,400. Company insiders own 62.00% of the company’s stock.

Globalstar Company Profile

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.