Beck Mack & Oliver LLC increased its stake in Globalstar, Inc. (NASDAQ:GSAT) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,252,940 shares of the company’s stock after purchasing an additional 156,000 shares during the period. Beck Mack & Oliver LLC owned 1.83% of Globalstar worth $34,642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GSAT. Burney Co. bought a new stake in shares of Globalstar in the 2nd quarter worth approximately $103,000. Institute for Wealth Management LLC. bought a new stake in shares of Globalstar in the 2nd quarter worth approximately $107,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Globalstar by 609.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 55,486 shares of the company’s stock worth $118,000 after purchasing an additional 47,665 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Globalstar by 15.0% in the 2nd quarter. Amalgamated Bank now owns 55,874 shares of the company’s stock worth $119,000 after purchasing an additional 7,304 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC bought a new stake in shares of Globalstar in the 2nd quarter worth approximately $168,000.

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In related news, CEO James Monroe III acquired 27,607,656 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were bought at an average cost of $1.57 per share, with a total value of $43,344,019.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of Globalstar, Inc. (NASDAQ:GSAT) traded up 2.58% during mid-day trading on Tuesday, hitting $1.59. The company had a trading volume of 2,093,414 shares. The firm’s market cap is $1.84 billion. The firm’s 50 day moving average is $1.67 and its 200-day moving average is $1.94. Globalstar, Inc. has a 12-month low of $0.73 and a 12-month high of $2.59.

Globalstar (NASDAQ:GSAT) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.07). The company had revenue of $28.13 million for the quarter, compared to analyst estimates of $25.66 million. Globalstar had a negative net margin of 351.08% and a negative return on equity of 320.82%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, equities analysts expect that Globalstar, Inc. will post ($0.14) EPS for the current year.

About Globalstar

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.

Institutional Ownership by Quarter for Globalstar (NASDAQ:GSAT)

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