Invesco Ltd. Buys 138,092 Shares of Globalstar, Inc. (NYSEARCA:GSAT)

Invesco Ltd. lifted its position in shares of Globalstar, Inc. (NYSEARCA:GSAT) by 55.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 387,050 shares of the company’s stock after purchasing an additional 138,092 shares during the period. Invesco Ltd.’s holdings in Globalstar were worth $801,000 as of its most recent SEC filing.

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

Globalstar Stock Performance

NYSEARCA:GSAT opened at $20.40 on Friday. The business’s fifty day moving average is $20.68 and its 200 day moving average is $9.93. Globalstar, Inc. has a 52-week low of $15.00 and a 52-week high of $41.10. The firm has a market cap of $38.64 billion, a price-to-earnings ratio of -680.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09.

Insider Activity at Globalstar

In other Globalstar news, CEO Paul E. Jacobs sold 7,087 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $22.15, for a total transaction of $156,977.05. Following the sale, the chief executive officer now owns 12,374 shares in the company, valued at $274,084.10. This trade represents a 36.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Monroe III bought 25,000 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was purchased at an average cost of $20.80 per share, with a total value of $520,000.00. Following the purchase, the director now owns 847,273 shares of the company’s stock, valued at $17,623,278.40. This represents a 3.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 259,546 shares of company stock valued at $5,784,726 and sold 34,257 shares valued at $755,528. 60.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Globalstar Profile

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.