The Vanguard Group, Inc. has recently announced that it has increased stake in Globalstar Inc. (AMEX:GSAT) by 0.52%. After grabbing 66.93 million shares, the institutional investor is now in possession of 0.34 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 3.70% having worth around $60.64 million. Moreover, BlackRock Fund Advisors increased its share by 42886.0 to have a control over 40.39 million shares. And Geode Capital Management LLC raised its holdings to 0.59 million shares by acquiring 12.91 million shares or 0.71% of the stake.
Globalstar Inc. (GSAT) concluded trading on 05/24/23 at a closing price of $1.10, with 2.94 million shares of worth about $3.23 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -41.49% during that period and on Wednesday the price saw a loss of about -6.78%. Currently the company’s common shares owned by public are about 1.81B shares, out of which, 681.44M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 61 times over the past 12 months. They bought 4,416,464 shares in 36 of the transactions. In 25 selling transactions, insiders dumped 6,320,495 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Globalstar Inc. Vanguard Total Stock Market ETF is currently holding 21.66 million shares of worth totaling $19.62 million. The company recently came buying 0.0 shares which brought its stake up to 1.20% of the company’s outstanding shares. Vanguard Small Cap Index Fund sold 4608.0 shares, after which its hold over company’s outstanding shares shrunk to 1.04%, leaving 18.8 million shares with the mutual fund that have a worth of about $17.03 million. iShares Russell 2000 ETF, after selling 14.48 million shares, have now control over 0.80% of the stake in the company. It holds -0.21 million shares of worth $13.12 million.
Globalstar Inc. (AMEX: GSAT) started trading at $1.15, below -$0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 1.1800, or with a loss of -6.78%. Stock saw a price change of 0.00% in past 5 days and over the past one month there was a price change of 18.17%. Year-to-date (YTD), GSAT shares are showing a performance of -17.29% which decreased to -9.84% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.85 but also hit the highest price of $2.98 during that period. The average intraday trading volume for Globalstar Inc. shares is 4.39 million. The stock is currently trading 9.27% above its 20-day simple moving average (SMA20), while that difference is up 6.11% for SMA50 and it goes to -24.77% lower than SMA200.
The Vanguard Group, Inc. acquired 66.93 million shares of Globalstar Inc. having value of about $60.64 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.34 million shares in the company valued at close to $377912.7, or have control over 0.52% stake in the company. Globalstar Inc. (AMEX: GSAT) currently have 1.81B outstanding shares and institutions hold larger chunk of about 18.60% of that. Holding of mutual funds in the company is about 61.64% while other institutional holders and individual stake holders have control over 7.76% and 10.73% of the stake respectively.
The stock has a current market capitalization of $2.02B and its 3Y-monthly beta is at 0.58. It has posted earnings per share of -$0.13 in the same period. It has Quick Ratio of 0.40 while making debt-to-equity ratio of 0.59. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GSAT, volatility over the week remained 6.44% while standing at 6.77% over the month.
Analysts are in expectations that Globalstar Inc. (GSAT) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is -$0.01 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -123.60%. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of 14.10% made by the stock over the past 5-years.
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