Rebecca Clary Sells 16,316 Shares of Globalstar (NASDAQ:GSAT) Stock

by · The Cerbat Gem

Globalstar, Inc. (NASDAQ:GSAT – Get Free Report) CFO Rebecca Clary sold 16,316 shares of Globalstar stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $58.32, for a total transaction of $951,549.12. Following the transaction, the chief financial officer directly owned 98,374 shares of the company’s stock, valued at $5,737,171.68. This represents a 14.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Rebecca Clary also recently made the following trade(s):

  • On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The stock was sold at an average price of $60.84, for a total transaction of $72,277.92.
  • On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The shares were sold at an average price of $61.34, for a total transaction of $3,435.04.
  • On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The stock was sold at an average price of $48.31, for a total transaction of $220,873.32.
  • On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The stock was sold at an average price of $44.43, for a total transaction of $192,515.19.
  • On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The shares were sold at an average price of $35.01, for a total transaction of $73,521.00.
  • On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The shares were sold at an average price of $29.75, for a total transaction of $159,430.25.

Globalstar Stock Down 6.0%

NASDAQ:GSAT traded down $3.76 during trading hours on Monday, hitting $59.19. 1,190,309 shares of the stock were exchanged, compared to its average volume of 911,229. The firm has a market capitalization of $7.51 billion, a P/E ratio of -131.53 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72. The company’s 50 day moving average is $43.54. Globalstar, Inc. has a twelve month low of $17.24 and a twelve month high of $65.52.

Globalstar (NASDAQ:GSAT – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%.The company had revenue of $73.85 million during the quarter. During the same period last year, the business posted $0.06 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Globalstar has set its FY 2025 guidance at EPS.

Institutional Trading of Globalstar

A number of institutional investors and hedge funds have recently modified their holdings of GSAT. PNC Financial Services Group Inc. increased its position in shares of Globalstar by 2.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 24,622 shares of the company’s stock valued at $896,000 after buying an additional 540 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Globalstar by 0.8% during the third quarter. HighTower Advisors LLC now owns 71,880 shares of the company’s stock worth $2,616,000 after acquiring an additional 546 shares in the last quarter. Cannell Capital LLC grew its stake in Globalstar by 1.1% in the second quarter. Cannell Capital LLC now owns 51,320 shares of the company’s stock valued at $1,209,000 after acquiring an additional 580 shares during the period. CWM LLC increased its holdings in shares of Globalstar by 100.6% in the third quarter. CWM LLC now owns 1,324 shares of the company’s stock worth $48,000 after acquiring an additional 664 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in shares of Globalstar by 7.4% during the third quarter. KLP Kapitalforvaltning AS now owns 10,120 shares of the company’s stock worth $368,000 after purchasing an additional 700 shares during the period. 18.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research cut Globalstar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. B. Riley lifted their price target on shares of Globalstar from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Globalstar in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.00.

Check Out Our Latest Stock Report on GSAT

About Globalstar

(Get Free Report)

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.

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