Globalstar, Inc. (NYSE:GSAT) Shares Sold by AtonRa Partners

AtonRa Partners trimmed its holdings in shares of Globalstar, Inc. (NYSE:GSAT) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Legion Partners Asset Management LLC boosted its stake in shares of Globalstar by 272.5% during the 3rd quarter. Legion Partners Asset Management LLC now owns 6,835,000 shares of the company’s stock worth $8,954,000 after acquiring an additional 5,000,000 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Globalstar in the 3rd quarter valued at $673,000. Ashford Capital Management Inc. purchased a new position in Globalstar in the 3rd quarter worth about $550,000. Vanguard Group Inc. raised 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 buying an additional 418,008 shares during the period. Finally, Robertson Stephens Wealth Management LLC lifted its stake in Globalstar by 14.9% during the third quarter. Robertson Stephens Wealth Management LLC now owns 1,946,000 shares of the company’s stock valued at $2,549,000 after buying an additional 253,000 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Stock Up 0.8 %

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

Globalstar (NYSE:GSAT) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share 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 for the quarter, compared to analyst estimates of $53.06 million. Equities research analysts anticipate that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Insider Transactions at Globalstar

In related news, Director James F. Lynch acquired 660,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $1.42 per share, for a total transaction of $937,200.00. Following the purchase, the director now owns 11,020,720 shares in the company, valued at $15,649,422.40. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased 1,980,000 shares of company stock valued at $2,765,400 over the last three months. 62.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Globalstar from a “hold” rating to a “sell” rating in a report 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.