Charles Schwab Investment Management Inc. Buys 196,644 Shares of Globalstar, Inc. (NYSE:GSAT)

Charles Schwab Investment Management Inc. lifted its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,186,012 shares of the company’s stock after acquiring an additional 196,644 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Globalstar were worth $7,671,000 at the end of the most recent reporting period.

Globalstar Trading Up 8.5 %

Shares of Globalstar stock opened at $2.29 on Wednesday. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -76.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. Globalstar, Inc. has a 12 month low of $1.00 and a 12 month high of $2.74. The company’s fifty day moving average price is $1.90.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Insider Activity

In other Globalstar news, Director William A. Hasler sold 90,000 shares of the firm’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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 61.00% of the company’s stock.

Globalstar Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.