Globalstar, Inc. (NYSE:GSAT) is now up 111.29% compared to a 12-month low of $0.73. We have seen the price to move -4.32% lower and get settled at $1.55 on 10/11/2017. At recent session, it appeared stuck in a range of $1.54 to $1.6. This company shares are 61.29% off its target price of $2.5 and the current market capitalization stands at $1.84B. The recent change has given its price a -16.02% deficit over SMA 50 and -40.15% deficit over its 52-week high. The stock witnessed -7.74% declines, -27.91% declines and -8.82% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found GSAT’s volatility during a week at 7.4% and during a month it has been found around 5.62%.Globalstar, Inc. (GSAT) Top Holders
Institutional investors currently hold around $486 million or 33.9% in GSAT stock. Look at its top three institutional owners. Vanguard Group Inc owns $75.85 million in Globalstar, Inc., which represents roughly 4.12% of the company’s market cap and approximately 15.61% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 36,206,359 shares of the stock are valued at $58.65 million. The third largest holder is Warlander Asset Management, Lp, which currently holds $46.82 million worth of this stock and that ownership represents nearly 2.54% of its market capitalization.
At the end of June reporting period, 83 institutional holders increased their position in Globalstar, Inc. (NYSE:GSAT) by some 18,508,601 shares, 49 decreased positions by 18,874,605 and 35 held positions by 262,527,023. That puts total institutional holdings at 299,910,229 shares, according to SEC filings. The stock grabbed 26 new institutional investments totaling 4,653,300 shares while 21 institutional investors sold out their entire positions totaling 2,711,102 shares.Globalstar, Inc. (NYSE:GSAT) Insider Trades
Multiple company employees have indulged in significant insider trading. Globalstar, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that CEO, 10% Owner Monroe James Iii has acquired 17,837,838 shares of Globalstar, Inc. (GSAT) in trading session dated Jun. 30, 2017. These shares are worth $33,000,000 and were traded at $1.85 each. The SEC filing shows that Ponder L Barbee Iv performed a sale of 86,770 shares. The General Counsel disposed these shares by way of transaction on Mar. 10, 2017. The company’s shares were given away at $1.42 per share worth to an income of some $123,213 on account of Ponder L Barbee Iv.
VP & CFO, Clary Rebecca, sold 34,274 common shares of Globalstar, Inc. (GSAT) in the open market. In a transaction dated Mar. 02, 2017, the shares were put up for sale at an average price of $1.42, raking in a sum of $48,669. After this sale, 293,382 common shares of GSAT are directly owned by the insider, with total stake valued at $454,742.
In the transaction dated May. 17, 2016, the great number of shares acquired came courtesy the President & COO; Kagan David B. added a total of 37,000 shares at an average price of $2.75, amounting to approximately $101,750. The insider now directly owns 67,000 shares worth $103,850.Globalstar, Inc. (GSAT) Analyst Guide
Not many analysts have released their opinion on Globalstar, Inc. (NYSE:GSAT), with 1 analysts believing it is a strong buy. Whereas 0 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1 average brokerage recommendation.