Andrew Hill Investment Advisors Inc. Makes New Investment in Globalstar, Inc. (NYSE:GSAT)

Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Globalstar, Inc. (NYSE:GSAT) in the fourth quarter, Holdings Channel reports. The firm acquired 185,395 shares of the company’s stock, valued at approximately $360,000.

Several other large investors have also modified their holdings of the business. HighMark Wealth Management LLC boosted its holdings in shares of Globalstar by 16.2% in the 4th quarter. HighMark Wealth Management LLC now owns 143,500 shares of the company’s stock valued at $278,000 after acquiring an additional 20,000 shares during the last quarter. KPP Advisory Services LLC acquired a new stake in shares of Globalstar during the fourth quarter valued at about $39,000. Pure Financial Advisors LLC acquired a new position in shares of Globalstar in the fourth quarter valued at approximately $97,000. Vanguard Group Inc. grew its holdings in Globalstar by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock worth $90,642,000 after acquiring an additional 418,008 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Globalstar by 1,099.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 153,830 shares of the company’s stock worth $202,000 after acquiring an additional 141,000 shares in the last quarter. Institutional investors own 18.89% of the company’s stock.

Globalstar Trading Down 1.6 %

Shares of GSAT stock traded down $0.02 during trading hours on Friday, hitting $1.23. 1,337,393 shares of the company were exchanged, compared to its average volume of 4,283,826. The firm has a market cap of $2.32 billion, a PE ratio of -123.00 and a beta of 0.84. Globalstar, Inc. has a 1 year low of $0.85 and a 1 year high of $2.13. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average of $1.36 and a 200 day moving average of $1.53.

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

Insider Buying and Selling

In other news, Director James F. Lynch purchased 660,000 shares of Globalstar stock in a transaction dated Thursday, March 7th. The stock was acquired at an average cost of $1.31 per share, for a total transaction of $864,600.00. Following the acquisition, the director now directly owns 9,700,720 shares in the company, valued at $12,707,943.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders have purchased 1,980,000 shares of company stock valued at $2,765,400. 62.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.