Xponance Inc. Has $117,000 Holdings in Globalstar, Inc. (NYSEARCA:GSAT)

Xponance Inc. lifted its position in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 17.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 56,330 shares of the company’s stock after purchasing an additional 8,494 shares during the period. Xponance Inc.’s holdings in Globalstar were worth $117,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GSAT. State Street Corp lifted its position in Globalstar by 3.4% in the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock valued at $21,804,000 after acquiring an additional 580,305 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Globalstar by 2.3% in the third quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after purchasing an additional 382,288 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Globalstar by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,262,448 shares of the company’s stock valued at $12,963,000 after purchasing an additional 76,436 shares in the last quarter. FMR LLC boosted its position in shares of Globalstar by 32.7% during the third quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after buying an additional 1,102,776 shares during the last quarter. Finally, AGF Management Ltd. bought a new stake in Globalstar during the fourth quarter worth $7,873,000. 18.89% of the stock is currently owned by institutional investors.

Insider Activity at Globalstar

In related news, CEO Paul E. Jacobs sold 7,087 shares of Globalstar stock in a transaction dated Wednesday, March 12th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Monroe III acquired 209,546 shares of the company’s stock in a transaction on Friday, March 28th. The shares were acquired at an average cost of $22.52 per share, for a total transaction of $4,718,975.92. Following the completion of the acquisition, the director now owns 790,097 shares of the company’s stock, valued at approximately $17,792,984.44. The trade was a 36.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 259,546 shares of company stock worth $5,784,726 and sold 48,796 shares worth $787,368. 60.76% of the stock is owned by company insiders.

Globalstar Trading Down 5.5 %

Shares of Globalstar stock opened at $21.28 on Friday. The firm has a market cap of $40.31 billion, a PE ratio of -709.33 and a beta of 1.07. Globalstar, Inc. has a 1 year low of $15.00 and a 1 year high of $41.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The stock has a fifty day moving average price of $15.49 and a 200-day moving average price of $7.10.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GSAT shares. Craig Hallum cut their price objective on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Morgan Stanley upped their price objective on shares of Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, B. Riley increased their price objective on shares of Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th.

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.