Globalstar (NASDAQ:GSAT) CFO Rebecca Clary Sells 420 Shares

by · The Markets Daily

Globalstar, Inc. (NASDAQ:GSAT – Get Free Report) CFO Rebecca Clary sold 420 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $63.01, for a total transaction of $26,464.20. Following the sale, the chief financial officer directly owned 109,383 shares of the company’s stock, valued at approximately $6,892,222.83. The trade was a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The shares were sold at an average price of $56.64, for a total transaction of $273,514.56.
  • On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total value of $273,514.56.
  • On Monday, December 8th, Rebecca Clary sold 1,221 shares of Globalstar stock. The shares were sold at an average price of $67.88, for a total value of $82,881.48.
  • On Monday, December 1st, Rebecca Clary sold 4,380 shares of Globalstar stock. The shares were sold at an average price of $59.92, for a total value of $262,449.60.
  • On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The shares were sold at an average price of $58.32, for a total value of $951,549.12.
  • On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The shares were sold at an average price of $60.84, for a total value of $72,277.92.
  • On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The stock was 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 transaction of $73,521.00.

Globalstar Stock Up 7.0%

GSAT stock traded up $4.38 during trading on Monday, reaching $66.63. The stock had a trading volume of 690,153 shares, compared to its average volume of 903,692. The company’s 50 day moving average is $56.20 and its two-hundred day moving average is $38.40. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of -144.85 and a beta of 1.08. Globalstar, Inc. has a one year low of $17.24 and a one year high of $74.88. The company has a quick ratio of 2.46, a current ratio of 2.53 and a debt-to-equity ratio of 1.33.

Globalstar (NASDAQ:GSAT – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $73.85 million for the quarter. Globalstar had a negative net margin of 21.07% and a negative return on equity of 3.67%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share.

Institutional Trading of Globalstar

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its position in shares of Globalstar by 610.7% during the 3rd quarter. US Bancorp DE now owns 931 shares of the company’s stock valued at $34,000 after acquiring an additional 800 shares during the period. Fortitude Family Office LLC bought a new stake in Globalstar during the third quarter valued at about $37,000. Advisory Services Network LLC bought a new stake in Globalstar during the third quarter valued at about $40,000. Dakota Community Bank & Trust NA purchased a new position in shares of Globalstar in the third quarter valued at about $46,000. Finally, CWM LLC boosted its stake 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 during the period. 18.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on GSAT shares. B. Riley raised their price objective on shares of Globalstar from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globalstar in a research report on Tuesday, December 16th. They set a “hold” rating and a $62.00 price target for the company. Zacks Research cut shares of Globalstar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research note on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Globalstar currently has a consensus rating of “Hold” and an average target price of $68.50.

Get Our Latest Report on Globalstar

About Globalstar

(Get Free Report)

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.

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