Linden Thomas Advisory Services LLC Cuts Stock Position in Globalstar, Inc. (NYSE:GSAT)

Linden Thomas Advisory Services LLC lessened its stake in Globalstar, Inc. (NYSE:GSAT) by 1.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,128,960 shares of the company’s stock after selling 13,192 shares during the quarter. Linden Thomas Advisory Services LLC owned approximately 0.06% of Globalstar worth $2,190,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC purchased a new stake in shares of Globalstar during the third quarter worth $25,000. Jump Financial LLC purchased a new stake in shares of Globalstar during the third quarter worth $39,000. Evergreen Capital Management LLC purchased a new stake in shares of Globalstar during the third quarter worth $53,000. EP Wealth Advisors LLC grew its holdings in shares of Globalstar by 141.3% during the third quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock worth $53,000 after buying an additional 23,748 shares in the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new stake in shares of Globalstar during the third quarter worth $79,000. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Globalstar Trading Up 3.2 %

Shares of GSAT stock traded up $0.04 on Tuesday, hitting $1.30. 1,071,213 shares of the stock traded hands, compared to its average volume of 4,242,867. The firm’s 50-day moving average price is $1.35 and its two-hundred day moving average price is $1.51. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.73 and a current ratio of 0.81. The stock has a market capitalization of $2.45 billion, a PE ratio of -130.00 and a beta of 0.84. Globalstar, Inc. has a twelve month low of $0.85 and a twelve month high of $2.13.

Globalstar (NYSE:GSAT) last posted its earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. Globalstar had a negative net margin of 14.61% and a negative return on equity of 6.43%. The company had revenue of $52.41 million during the quarter, compared to analyst estimates of $53.06 million. As a group, analysts anticipate that Globalstar, Inc. will post -0.02 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Globalstar from a “hold” rating to a “sell” rating in a research report on Thursday, February 29th.

Insider Buying and Selling at Globalstar

In related news, Director James F. Lynch bought 660,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were bought at an average price of $1.46 per share, with a total value of $963,600.00. Following the completion of the transaction, the director now directly owns 12,340,720 shares of the company’s stock, valued at approximately $18,017,451.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 1,980,000 shares of company stock valued at $2,765,400 over the last 90 days. 62.00% of the stock is owned by insiders.

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.