Globalstar, Inc. $GSAT Shares Sold by Curbstone Financial Management Corp

Curbstone Financial Management Corp lessened its position in shares of Globalstar, Inc. (NASDAQ:GSAT) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,200 shares of the company’s stock after selling 3,096 shares during the quarter. Curbstone Financial Management Corp’s holdings in Globalstar were worth $688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Magnus Financial Group LLC raised its stake in shares of Globalstar by 1.7% during the 2nd quarter. Magnus Financial Group LLC now owns 195,745 shares of the company’s stock worth $4,610,000 after buying an additional 3,333 shares during the last quarter. Nordea Investment Management AB purchased a new position in Globalstar in the 2nd quarter valued at about $3,037,000. Finally, Acadian Asset Management LLC purchased a new position in Globalstar in the 1st quarter valued at about $99,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Price Performance

NASDAQ GSAT opened at $43.56 on Friday. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $47.44. The company’s 50-day moving average is $34.18. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.72 and a current ratio of 2.81. The firm has a market cap of $5.52 billion, a P/E ratio of -96.80 and a beta of 0.99.

Globalstar (NASDAQ:GSAT) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.22. Globalstar had a negative net margin of 17.80% and a negative return on equity of 1.17%. The company had revenue of $67.15 million during the quarter. Globalstar has set its FY 2025 guidance at EPS.

Insider Activity

In other news, CFO Rebecca Clary sold 5,359 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $29.75, for a total transaction of $159,430.25. Following the completion of the transaction, the chief financial officer owned 107,761 shares of the company’s stock, valued at $3,205,889.75. This represents a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Paul E. Jacobs sold 53,479 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $34.95, for a total value of $1,869,091.05. Following the sale, the chief executive officer owned 58,895 shares of the company’s stock, valued at $2,058,380.25. The trade was a 47.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 117,938 shares of company stock valued at $3,950,670 in the last 90 days. 61.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GSAT has been the topic of several analyst reports. Zacks Research cut shares of Globalstar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Wall Street Zen raised shares of Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, June 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Globalstar presently has an average rating of “Reduce”.

Globalstar Profile

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.