Curbstone Financial Management Corp Has $960,000 Stake in Globalstar, Inc. (NYSEARCA:GSAT)

Curbstone Financial Management Corp boosted its holdings in Globalstar, Inc. (NYSEARCA:GSAT) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 464,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Curbstone Financial Management Corp’s holdings in Globalstar were worth $960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XTX Topco Ltd grew its holdings in shares of Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after buying an additional 949,025 shares during the last quarter. FMR LLC increased its holdings in Globalstar by 32.7% during the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after purchasing an additional 1,102,776 shares in the last quarter. Barclays PLC raised its stake in shares of Globalstar by 36.6% in the third quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock worth $1,575,000 after purchasing an additional 340,476 shares during the last quarter. State Street Corp lifted its holdings in shares of Globalstar by 3.4% in the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock valued at $21,804,000 after purchasing an additional 580,305 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Globalstar by 36.3% during the third quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock valued at $2,811,000 after buying an additional 603,285 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

Globalstar Stock Down 8.1 %

NYSEARCA:GSAT opened at $1.82 on Tuesday. The stock has a market cap of $3.45 billion, a PE ratio of -60.67 and a beta of 1.07. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The firm has a 50-day simple moving average of $1.99. Globalstar, Inc. has a twelve month low of $1.00 and a twelve month high of $2.74.

Insider Activity at Globalstar

In related news, VP Timothy Evan Taylor sold 3,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $2.22, for a total value of $7,770,000.00. Following the completion of the sale, the vice president now owns 6,383,649 shares in the company, valued at $14,171,700.78. The trade was a 35.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the completion of the sale, the director now directly owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,030,000 shares of company stock valued at $5,987,000 and have sold 3,680,851 shares valued at $8,136,154. 60.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GSAT has been the topic of several recent analyst reports. Craig Hallum raised their price objective on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

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.