Plustick Management LLC Has $19.30 Million Stock Position in Globalstar, Inc. (NYSE:GSAT)

Plustick Management LLC boosted its stake in shares of Globalstar, Inc. (NYSE:GSATFree Report) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,949,000 shares of the company’s stock after acquiring an additional 450,000 shares during the quarter. Globalstar comprises about 16.4% of Plustick Management LLC’s investment portfolio, making the stock its biggest position. Plustick Management LLC owned 0.52% of Globalstar worth $19,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Panagora Asset Management Inc. bought a new stake in shares of Globalstar in the 4th quarter worth about $35,000. Jump Financial LLC bought a new position in Globalstar during the 3rd quarter valued at about $39,000. Evergreen Capital Management LLC purchased a new stake in Globalstar in the 3rd quarter worth about $53,000. EP Wealth Advisors LLC lifted its stake in Globalstar by 141.3% in the third quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock worth $53,000 after purchasing an additional 23,748 shares during the last quarter. Finally, Pure Financial Advisors LLC bought a new stake in Globalstar in the fourth quarter worth about $97,000. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Globalstar Trading Down 2.7 %

GSAT stock traded down $0.03 during midday trading on Thursday, reaching $1.10. The company’s stock had a trading volume of 1,822,900 shares, compared to its average volume of 3,863,424. Globalstar, Inc. has a 1 year low of $0.96 and a 1 year high of $2.13. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -55.00 and a beta of 0.82. The stock has a fifty day simple moving average of $1.14 and a two-hundred day simple moving average of $1.27. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.90 and a current ratio of 1.00.

Globalstar (NYSE:GSATGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. The firm had revenue of $56.48 million during the quarter, compared to analyst estimates of $52.92 million. On average, equities research analysts predict that Globalstar, Inc. will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Globalstar from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th.

Read Our Latest Research Report on Globalstar

Globalstar Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Globalstar (NYSE:GSAT)

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