Catalyst Financial Partners LLC Has $192,000 Holdings in Globalstar, Inc. (NYSE:GSAT)

Catalyst Financial Partners LLC cut its position in Globalstar, Inc. (NYSE:GSAT) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,687 shares of the company’s stock after selling 9,630 shares during the period. Catalyst Financial Partners LLC’s holdings in Globalstar were worth $192,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Globalstar by 33.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 198,776 shares of the company’s stock worth $223,000 after acquiring an additional 49,951 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Globalstar by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 1,165,930 shares of the company’s stock worth $1,306,000 after acquiring an additional 18,943 shares during the last quarter. Second Line Capital LLC bought a new position in shares of Globalstar in the first quarter worth about $34,000. Murchinson Ltd. bought a new position in shares of Globalstar in the first quarter worth about $1,470,000. Finally, Ashford Capital Management Inc. raised its stake in shares of Globalstar by 1,551.7% in the first quarter. Ashford Capital Management Inc. now owns 7,027,954 shares of the company’s stock worth $10,331,000 after acquiring an additional 6,602,454 shares during the last quarter. 18.89% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Globalstar news, Director James Monroe III bought 4,510,855 shares of Globalstar stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $1.06 per share, for a total transaction of $4,781,506.30. Following the completion of the acquisition, the director now owns 8,708,254 shares of the company’s stock, valued at approximately $9,230,749.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 61.00% of the stock is currently owned by corporate insiders.

Globalstar Trading Down 3.0 %

Shares of GSAT traded down $0.05 on Monday, reaching $1.44. 2,690,479 shares of the company’s stock were exchanged, compared to its average volume of 4,020,918. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.00 and a quick ratio of 0.90. The stock has a market cap of $2.73 billion, a PE ratio of -70.75 and a beta of 0.90. The stock’s 50 day simple moving average is $1.23. Globalstar, Inc. has a 12 month low of $1.01 and a 12 month high of $2.13.

Globalstar (NYSE:GSAT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $60.39 million during the quarter, compared to analysts’ expectations of $57.49 million. Globalstar had a negative net margin of 19.14% and a negative return on equity of 11.66%. Equities research analysts predict that Globalstar, Inc. will post -0.02 EPS for the current year.

Globalstar Company 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.