Globalstar, Inc. (NASDAQ:GSAT – Get Free Report) General Counsel L. Ponder, IV sold 1,692 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $82.96, for a total transaction of $140,368.32. Following the sale, the general counsel directly owned 128,891 shares of the company’s stock, valued at $10,692,797.36. The trade was a 1.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
L Barbee Iv Ponder also recently made the following trade(s):
- On Tuesday, August 11th, L. Ponder, IV sold 4,720 shares of Globalstar stock. The stock was sold at an average price of $83.52, for a total transaction of $394,214.40.
- On Friday, August 7th, L. Ponder, IV sold 12,045 shares of Globalstar stock. The shares were sold at an average price of $83.21, for a total transaction of $1,002,264.45.
Globalstar Trading Down 0.0%
NASDAQ GSAT opened at $82.46 on Friday. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of -161.69 and a beta of 1.51. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.55 and a quick ratio of 1.51. Globalstar, Inc. has a 12 month low of $33.90 and a 12 month high of $84.85. The company’s fifty day moving average price is $81.87 and its two-hundred day moving average price is $78.54.
Wall Street Analyst Weigh In
A number of research firms have commented on GSAT. Weiss Ratings downgraded Globalstar from a “hold (c)” rating to a “sell (d-)” rating in a report on Tuesday. Zacks Research downgraded shares of Globalstar from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. Craig Hallum lowered shares of Globalstar from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Tuesday, August 18th. Finally, Wall Street Zen raised shares of Globalstar to a “sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $75.67.
Get Our Latest Research Report on Globalstar
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in GSAT. Geode Capital Management LLC lifted its stake in Globalstar by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,283,093 shares of the company’s stock valued at $78,331,000 after buying an additional 4,799 shares during the last quarter. Senvest Management LLC increased its holdings in shares of Globalstar by 27.7% in the 1st quarter. Senvest Management LLC now owns 868,946 shares of the company’s stock worth $57,715,000 after acquiring an additional 188,325 shares during the period. Sculptor Capital LP bought a new stake in Globalstar in the 1st quarter valued at about $15,742,000. Dimensional Fund Advisors LP lifted its position in Globalstar by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 231,690 shares of the company’s stock valued at $15,363,000 after purchasing an additional 16,009 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Globalstar during the 2nd quarter valued at about $13,233,000. 18.89% of the stock is currently owned by institutional investors.
About Globalstar
Globalstar, Inc (NASDAQ: GSAT) provides mobile satellite communications and related connectivity services. The company operates a low-Earth-orbit satellite network that supports two-way voice and data communications, satellite messaging, asset tracking, and Internet of Things (IoT) applications in areas where terrestrial wireless networks are limited or unavailable.
Its product portfolio includes SPOT satellite messengers and tracking devices, which are used for personal safety, emergency communications, location tracking, and field operations.
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