667,900 Shares in Globalstar, Inc. (GSAT) Acquired by AlphaOne Investment Services LLC
AlphaOne Investment Services LLC bought a new stake in Globalstar, Inc. (NASDAQ:GSAT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 667,900 shares of the company’s stock, valued at approximately $1,423,000. AlphaOne Investment Services LLC owned 0.06% of Globalstar at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Burney Co. acquired a new stake in Globalstar in the 2nd quarter valued at approximately $103,000. BNP Paribas Arbitrage SA increased its position in Globalstar by 609.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 55,486 shares of the company’s stock valued at $118,000 after acquiring an additional 47,665 shares during the period. Amalgamated Bank increased its position in Globalstar by 15.0% in the 2nd quarter. Amalgamated Bank now owns 55,874 shares of the company’s stock valued at $119,000 after acquiring an additional 7,304 shares during the period. Villere ST Denis J & Co. LLC acquired a new stake in Globalstar in the 2nd quarter valued at approximately $168,000. Finally, PNC Financial Services Group Inc. increased its position in Globalstar by 25.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 100,000 shares of the company’s stock valued at $214,000 after acquiring an additional 20,000 shares during the period.
TRADEMARK VIOLATION NOTICE: “667,900 Shares in Globalstar, Inc. (GSAT) Acquired by AlphaOne Investment Services LLC” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/09/21/667900-shares-in-globalstar-inc-gsat-acquired-by-alphaone-investment-services-llc.html.
In other Globalstar news, CEO James Monroe III bought 17,837,838 shares of Globalstar stock in a transaction dated Friday, June 30th. The shares were acquired at an average cost of $1.85 per share, with a total value of $33,000,000.30. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Globalstar, Inc. (GSAT) traded down 1.944% during mid-day trading on Thursday, reaching $1.765. The company had a trading volume of 104,024 shares. Globalstar, Inc. has a 52-week low of $0.73 and a 52-week high of $2.59. The company’s 50 day moving average is $1.90 and its 200 day moving average is $1.92. The stock’s market capitalization is $2.05 billion.
Globalstar (NASDAQ:GSAT) last announced its earnings results on Thursday, August 3rd. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The business had revenue of $28.13 million during the quarter, compared to analyst estimates of $25.66 million. Globalstar had a negative return on equity of 320.82% and a negative net margin of 351.08%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. Equities analysts predict that Globalstar, Inc. will post ($0.14) earnings per share for the current year.
Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
Want to see what other hedge funds are holding GSAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globalstar, Inc. (NASDAQ:GSAT).
Receive News & Ratings for Globalstar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.