UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.68 Million Stock Holdings in Globalstar, Inc. (NYSE:GSAT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Globalstar, Inc. (NYSE:GSAT) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,358,093 shares of the company’s stock after selling 169,488 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Globalstar were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GSAT. FMR LLC increased its stake in Globalstar by 32.7% during the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after purchasing an additional 1,102,776 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Globalstar by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after buying an additional 196,644 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after buying an additional 68,599 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Globalstar during the third quarter worth about $56,000. Institutional investors own 18.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Globalstar Price Performance

Shares of NYSE:GSAT opened at $1.95 on Tuesday. The stock has a market capitalization of $3.69 billion, a PE ratio of -65.00 and a beta of 1.10. The firm’s 50 day moving average is $1.94. Globalstar, Inc. has a 12-month low of $1.00 and a 12-month high of $2.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09.

Insiders Place Their Bets

In other Globalstar news, VP Timothy Evan Taylor sold 3,500,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were 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 in the company, valued at approximately $14,171,700.78. This trade represents a 35.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Monroe III bought 500,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $1.96 per share, for a total transaction of $980,000.00. Following the purchase, the director now directly owns 7,834,090 shares in the company, valued at approximately $15,354,816.40. The trade was a 6.82 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 3,666,312 shares of company stock valued at $8,104,313 in the last three months. 61.00% of the stock is currently owned by insiders.

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.