BNP Paribas Arbitrage SA Increases Stock Position in Globalstar, Inc. (NYSEAMERICAN:GSAT)

BNP Paribas Arbitrage SA raised its position in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 327.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 23,384 shares of the Wireless communications provider’s stock after purchasing an additional 17,916 shares during the period. BNP Paribas Arbitrage SA’s holdings in Globalstar were worth $42,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GSAT. Mirabella Financial Services LLP purchased a new position in Globalstar during the first quarter valued at $25,000. SRS Capital Advisors Inc. bought a new position in shares of Globalstar during the second quarter valued at $27,000. Stifel Financial Corp bought a new position in shares of Globalstar during the first quarter valued at $32,000. Capula Management Ltd bought a new position in shares of Globalstar during the first quarter valued at $32,000. Finally, Alliancebernstein L.P. bought a new position in shares of Globalstar during the first quarter valued at $37,000. 17.06% of the stock is owned by institutional investors and hedge funds.

GSAT has been the subject of several analyst reports. B. Riley initiated coverage on Globalstar in a report on Monday, June 21st. They set a “buy” rating for the company. Zacks Investment Research downgraded Globalstar from a “hold” rating to a “sell” rating in a report on Friday, October 8th. Finally, TheStreet upgraded Globalstar from a “d+” rating to a “c-” rating in a report on Monday, August 30th.

NYSEAMERICAN GSAT opened at $1.64 on Thursday. Globalstar, Inc. has a one year low of $0.29 and a one year high of $2.98. The stock has a market capitalization of $2.94 billion, a P/E ratio of -32.80 and a beta of 0.10. The company has a quick ratio of 0.99, a current ratio of 1.19 and a debt-to-equity ratio of 0.76.

Globalstar (NYSEAMERICAN:GSAT) last released its quarterly earnings data on Thursday, August 5th. The Wireless communications provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Globalstar had a negative return on equity of 22.14% and a negative net margin of 77.20%. The company had revenue of $30.28 million during the quarter, compared to the consensus estimate of $27.36 million. On average, sell-side analysts expect that Globalstar, Inc. will post -0.06 EPS for the current year.

About Globalstar

Globalstar, Inc engages in the provision of mobile satellite services. It offers voice and data communications services to following markets: recreation and personal; government; public safety and disaster relief; oil and gas; maritime and fishing; natural resources, mining, and forestry; construction; utilities; and transportation.

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Institutional Ownership by Quarter for Globalstar (NYSEAMERICAN:GSAT)

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