Mason Capital Management LLC Has $8,275,000 Stake in Globalstar, Inc. (GSAT)
Mason Capital Management LLC held its position in Globalstar, Inc. (NASDAQ:GSAT) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,885,000 shares of the company’s stock at the close of the second quarter. Globalstar accounts for approximately 0.5% of Mason Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Mason Capital Management LLC owned 0.34% of Globalstar worth $8,275,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Burney Co. acquired a new stake in Globalstar in the 2nd quarter worth $103,000. BNP Paribas Arbitrage SA grew its position in Globalstar by 609.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 55,486 shares of the company’s stock worth $118,000 after purchasing an additional 47,665 shares during the last quarter. Amalgamated Bank grew its position in Globalstar by 15.0% in the 2nd quarter. Amalgamated Bank now owns 55,874 shares of the company’s stock worth $119,000 after purchasing an additional 7,304 shares during the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in Globalstar in the 2nd quarter worth $168,000. Finally, PNC Financial Services Group Inc. grew its position in Globalstar by 25.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 100,000 shares of the company’s stock worth $214,000 after purchasing an additional 20,000 shares during the last quarter.
Globalstar, Inc. (NASDAQ GSAT) traded down 1.21% during mid-day trading on Friday, reaching $1.63. 2,623,264 shares of the company’s stock traded hands. The firm’s market cap is $1.89 billion. Globalstar, Inc. has a 1-year low of $0.73 and a 1-year high of $2.59. The firm has a 50 day moving average of $1.90 and a 200 day moving average of $1.92.
Globalstar (NASDAQ:GSAT) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.07). Globalstar had a negative net margin of 351.08% and a negative return on equity of 320.82%. The business had revenue of $28.13 million during the quarter, compared to analyst estimates of $25.66 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Analysts forecast that Globalstar, Inc. will post ($0.14) EPS for the current year.
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Globalstar Company Profile
Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
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