Globalstar (NASDAQ:GSAT) VP Sells 19,998 Shares of Company Stock

Globalstar, Inc. (NASDAQ:GSAT) VP Timothy Taylor sold 19,998 shares of Globalstar stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $86.16, for a total value of $1,723,027.68. Following the completion of the sale, the vice president owned 255,467 shares of the company’s stock, valued at $22,011,036.72. The trade was a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Timothy Evan Taylor also recently made the following trade(s):

• On Thursday, November 12th, Timothy Taylor sold 90,000 shares of Globalstar stock. The shares were sold at an average price of $86.30, for a total transaction of $7,767,000.00.

Globalstar Stock Performance

Globalstar stock traded up $0.05 during midday trading on Friday, reaching $86.29. 820,728 shares of the company traded hands, compared to its average volume of 1,053,990. Globalstar, Inc. has a 12 month low of $53.67 and a 12 month high of $86.96. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.59 and a quick ratio of 1.54. The business has a 50 day moving average of $83.15 and a two-hundred day moving average of $76.81. The firm has a market capitalization of $11.18 billion, a price-to-earnings ratio of -134.83 and a beta of 1.52.

Globalstar (NASDAQ:GSAT) last announced its earnings results on Thursday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The firm had revenue of $70.90 million during the quarter. Globalstar had a negative return on equity of 23.10% and a negative net margin of 28.53%. As a group, research analysts predict that Globalstar, Inc. will post -0.62 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GSAT shares. Zacks Research upgraded shares of Globalstar from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 15th. Craig Hallum lowered shares of Globalstar from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research report on Tuesday, August 18th. Wall Street Zen raised shares of Globalstar from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Weiss Ratings downgraded shares of Globalstar from a “hold (c)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Globalstar has a consensus rating of “Reduce” and an average target price of $76.00.

Institutional Trading of Globalstar

Several hedge funds have recently bought and sold shares of GSAT. Eurizon Capital SGR S.p.A. purchased a new stake in Globalstar in the third quarter worth about $27,000. Fifth Third Bancorp purchased a new position in shares of Globalstar during the 3rd quarter valued at about $29,000. Optiver Holding B.V. purchased a new position in shares of Globalstar during the 1st quarter valued at about $32,000. Parallel Advisors LLC grew its stake in shares of Globalstar by 114.1% during the 3rd quarter. Parallel Advisors LLC now owns 516 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of Globalstar by 879.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 764 shares of the company’s stock valued at $62,000 after acquiring an additional 686 shares during the period. Institutional investors own 18.89% of the company’s stock.

Globalstar Company Profile

Globalstar operates a low Earth orbit satellite communications network that provides voice and data connectivity in areas where terrestrial networks may be unavailable. Its services support personal, commercial and government users across land and maritime environments. The company offers satellite phones and data services, as well as products and services for asset tracking, remote monitoring and safety communications. Its SPOT devices provide location-based messaging and emergency notification, while its satellite network also supports Apple satellite features in supported regions.