185,395 Shares in Globalstar, Inc. (NYSE:GSAT) Purchased by Andrew Hill Investment Advisors Inc.

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

A number of other large investors have also made changes to their positions in the company. Private Advisor Group LLC purchased a new position in Globalstar in the 3rd quarter worth approximately $25,000. Jump Financial LLC purchased a new position in Globalstar in the 3rd quarter worth approximately $39,000. KPP Advisory Services LLC purchased a new position in Globalstar in the 4th quarter worth approximately $39,000. Creative Planning lifted its holdings in Globalstar by 45.1% in the 3rd quarter. Creative Planning now owns 31,918 shares of the company’s stock worth $42,000 after purchasing an additional 9,924 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in Globalstar in the 3rd quarter worth approximately $53,000. 18.89% of the stock is currently owned by institutional investors.

Globalstar Trading Down 1.6 %

Globalstar stock traded down $0.02 during mid-day trading on Friday, hitting $1.23. The company’s stock had a trading volume of 1,337,393 shares, compared to its average volume of 4,283,826. The company has a 50 day moving average of $1.36 and a 200-day moving average of $1.53. The stock has a market cap of $2.32 billion, a PE ratio of -127.00 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. Globalstar, Inc. has a one year low of $0.85 and a one year high of $2.13.

Globalstar (NYSE:GSAT) last announced its quarterly earnings data 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 the consensus estimate of $53.06 million. On average, research analysts anticipate that Globalstar, Inc. will post -0.02 EPS for the current year.

Insider Transactions at Globalstar

In other news, Director James F. Lynch purchased 660,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of $1.46 per share, with a total value of $963,600.00. Following the transaction, the director now owns 12,340,720 shares of the company’s stock, valued at $18,017,451.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 1,980,000 shares of company stock valued at $2,765,400. 62.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Globalstar 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.