36,961 Shares in Globalstar, Inc. (NYSEARCA:GSAT) Acquired by AXQ Capital LP

AXQ Capital LP purchased a new position in Globalstar, Inc. (NYSEARCA:GSAT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 36,961 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors have also recently made changes to their positions in the company. PFG Investments LLC purchased a new position in shares of Globalstar during the 4th quarter valued at about $25,000. IRON Financial LLC purchased a new position in shares of Globalstar during the fourth quarter worth approximately $29,000. Sequoia Financial Advisors LLC bought a new stake in shares of Globalstar in the 4th quarter worth approximately $35,000. Vontobel Holding Ltd. purchased a new stake in shares of Globalstar in the 4th quarter valued at $41,000. Finally, Masso Torrence Wealth Management Inc. bought a new position in shares of Globalstar during the 4th quarter valued at $52,000. Institutional investors own 18.89% of the company’s stock.

Globalstar Price Performance

Shares of Globalstar stock opened at $23.42 on Tuesday. The company’s fifty day simple moving average is $13.84 and its two-hundred day simple moving average is $6.73. Globalstar, Inc. has a 12-month low of $15.00 and a 12-month high of $41.10. The firm has a market cap of $44.36 billion, a PE ratio of -780.67 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.

Wall Street Analysts Forecast Growth

GSAT has been the subject of several recent research reports. B. Riley boosted their price target on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their target price on Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Craig Hallum reduced their price target on Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 28th.

Insider Buying and Selling

In other news, CEO Paul E. Jacobs sold 7,087 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $22.15, for a total value of $156,977.05. Following the completion of the sale, the chief executive officer now directly owns 12,374 shares of the company’s stock, valued at approximately $274,084.10. This trade represents a 36.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James Monroe III bought 25,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $21.83 per share, for a total transaction of $545,750.00. Following the purchase, the director now directly owns 897,273 shares in the company, valued at approximately $19,587,469.59. This represents a 2.87 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 550,000 shares of company stock valued at $2,115,750 and have sold 48,796 shares valued at $787,368. 60.76% of the stock is owned by insiders.

About Globalstar

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.