Insider Selling: Globalstar (NASDAQ:GSAT) CFO Sells 1,188 Shares of Stock

by · The Markets Daily

Globalstar, Inc. (NASDAQ:GSAT – Get Free Report) CFO Rebecca Clary sold 1,188 shares of Globalstar stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $60.84, for a total value of $72,277.92. Following the completion of the sale, the chief financial officer owned 114,690 shares of the company’s stock, valued at $6,977,739.60. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The stock was sold at an average price of $58.32, for a total transaction of $951,549.12.
  • 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 shares were 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 stock was sold at an average price of $35.01, for a total value of $73,521.00.
  • On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The stock was sold at an average price of $29.75, for a total value of $159,430.25.

Globalstar Stock Performance

Globalstar stock traded down $3.76 during midday trading on Monday, reaching $59.19. The stock had a trading volume of 1,190,309 shares, compared to its average volume of 911,229. The firm has a 50-day moving average price of $43.54. Globalstar, Inc. has a twelve month low of $17.24 and a twelve month high of $65.52. 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 stock has a market capitalization of $7.51 billion, a PE ratio of -131.53 and a beta of 1.00.

Globalstar (NASDAQ:GSAT – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter. During the same quarter last year, the business earned $0.06 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Globalstar has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

GSAT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research report on Wednesday, October 8th. B. Riley lifted their target price on shares of Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Zacks Research cut shares of Globalstar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $75.00.

Check Out Our Latest Stock Report on Globalstar

Institutional Trading of Globalstar

Large investors have recently modified their holdings of the business. US Bancorp DE increased its position in shares of Globalstar by 610.7% during the third quarter. US Bancorp DE now owns 931 shares of the company’s stock worth $34,000 after acquiring an additional 800 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Globalstar during the 3rd quarter valued at approximately $37,000. Dakota Community Bank & Trust NA purchased a new stake in Globalstar during the 3rd quarter worth approximately $46,000. CWM LLC increased its holdings in Globalstar by 100.6% during the 3rd quarter. CWM LLC now owns 1,324 shares of the company’s stock worth $48,000 after purchasing an additional 664 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new position in shares of Globalstar in the 3rd quarter valued at approximately $64,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

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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