Water Island Capital LLC increased its holdings in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 180.0% in the first quarter, HoldingsChannel reports. The firm owned 280,000 shares of the Wireless communications provider’s stock after acquiring an additional 180,000 shares during the period. Water Island Capital LLC’s holdings in Globalstar were worth $120,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. HighPoint Advisor Group LLC purchased a new stake in shares of Globalstar in the 4th quarter valued at $33,000. Parsec Financial Management Inc. bought a new stake in Globalstar during the 4th quarter valued at $36,000. Founders Financial Securities LLC raised its holdings in Globalstar by 146.6% during the 4th quarter. Founders Financial Securities LLC now owns 67,755 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 40,280 shares during the last quarter. Wedbush Securities Inc. bought a new stake in Globalstar during the 1st quarter valued at $49,000. Finally, Virtu Financial LLC raised its holdings in Globalstar by 194.0% during the 4th quarter. Virtu Financial LLC now owns 115,545 shares of the Wireless communications provider’s stock valued at $74,000 after buying an additional 76,246 shares during the last quarter.

A number of research firms recently commented on GSAT. Zacks Investment Research upgraded shares of Globalstar from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a report on Wednesday, April 24th. TheStreet lowered shares of Globalstar from a “c-” rating to a “d” rating in a report on Thursday, April 18th.

NYSEAMERICAN GSAT traded down $0.03 during trading on Thursday, hitting $0.60. The company had a trading volume of 24,967 shares, compared to its average volume of 2,338,371. Globalstar, Inc. has a one year low of $0.29 and a one year high of $0.73.

Globalstar (NYSEAMERICAN:GSAT) last issued its quarterly earnings data on Thursday, February 28th. The Wireless communications provider reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.05). The business had revenue of $31.95 million for the quarter.

In other Globalstar news, General Counsel L Barbee Iv Ponder sold 342,558 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $0.44, for a total value of $150,725.52. Following the completion of the transaction, the general counsel now directly owns 732,819 shares in the company, valued at approximately $322,440.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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Globalstar Company Profile

Globalstar, Inc provides mobile satellite services, voice and data communications services through satellite worldwide. It offers communications services via satellite which includes: two-way voice communication and data transmissions using mobile or fixed devices; and one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station.

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Institutional Ownership by Quarter for Globalstar (NYSEAMERICAN:GSAT)

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