Masso Torrence Wealth Management Inc. Buys Shares of 25,000 Globalstar, Inc. (NYSEARCA:GSAT)

Masso Torrence Wealth Management Inc. purchased a new position in shares of Globalstar, Inc. (NYSEARCA:GSAT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $52,000.

Other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC lifted its position in Globalstar by 12.9% in the 2nd quarter. Renaissance Technologies LLC now owns 176,629 shares of the company’s stock valued at $198,000 after purchasing an additional 20,200 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Globalstar in the second quarter valued at approximately $31,000. Algert Global LLC bought a new stake in shares of Globalstar during the second quarter valued at approximately $86,000. SG Americas Securities LLC boosted its position in shares of Globalstar by 1,405.0% during the third quarter. SG Americas Securities LLC now owns 276,825 shares of the company’s stock worth $343,000 after buying an additional 258,431 shares during the period. Finally, Inspire Investing LLC grew its holdings in Globalstar by 4.7% in the 3rd quarter. Inspire Investing LLC now owns 333,479 shares of the company’s stock worth $414,000 after buying an additional 14,862 shares in the last quarter. Institutional investors own 18.89% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GSAT shares. StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Craig Hallum boosted their target price on Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Insider Transactions at Globalstar

In other Globalstar news, VP Timothy Evan Taylor sold 3,500,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $2.22, for a total value of $7,770,000.00. Following the completion of the sale, the vice president now owns 6,383,649 shares of the company’s stock, valued at $14,171,700.78. The trade was a 35.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the sale, the director now owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This trade represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 3,030,000 shares of company stock valued at $5,987,000 and sold 3,680,851 shares valued at $8,136,154. Company insiders own 60.76% of the company’s stock.

Globalstar Price Performance

NYSEARCA GSAT opened at $1.35 on Wednesday. The stock has a 50 day moving average of $1.99. Globalstar, Inc. has a 52-week low of $1.00 and a 52-week high of $2.74. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -45.67 and a beta of 1.07. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91.

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.