Globalstar, Inc. (NYSEARCA:GSAT) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC lowered its holdings in Globalstar, Inc. (NYSEARCA:GSAT) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 655,261 shares of the company’s stock after selling 11,000 shares during the period. Globalstar comprises about 0.9% of Merrion Investment Management Co LLC’s investment portfolio, making the stock its 23rd biggest holding. Merrion Investment Management Co LLC’s holdings in Globalstar were worth $1,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. XTX Topco Ltd raised 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 raised its holdings in shares of Globalstar by 32.7% during the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after buying an additional 1,102,776 shares during the last quarter. Barclays PLC raised its holdings in shares of Globalstar by 36.6% during the third quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after buying an additional 340,476 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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. Finally, State Street Corp raised its holdings in shares of Globalstar by 3.4% during the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock valued at $21,804,000 after buying an additional 580,305 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on GSAT shares. Craig Hallum boosted their target price on Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Insider Buying and Selling at Globalstar

In other news, CEO Paul E. Jacobs sold 14,539 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $2.19, for a total value of $31,840.41. Following the transaction, the chief executive officer now directly owns 84,815 shares of the company’s stock, valued at approximately $185,744.85. This represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Monroe III purchased 530,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $1.90 per share, for a total transaction of $1,007,000.00. Following the completion of the purchase, the director now directly owns 6,834,090 shares of the company’s stock, valued at $12,984,771. The trade was a 8.41 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, 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 owned by corporate insiders.

Globalstar Stock Performance

NYSEARCA GSAT opened at $1.57 on Thursday. The company has a market capitalization of $2.97 billion, a PE ratio of -52.33 and a beta of 1.07. Globalstar, Inc. has a 1 year low of $1.00 and a 1 year high of $2.74. The firm has a fifty day moving average of $1.99. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

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.