Virtu Financial LLC Trims Holdings in Globalstar, Inc. (NYSEAMERICAN:GSAT)

Virtu Financial LLC decreased its stake in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 92.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,727 shares of the Wireless communications provider’s stock after selling 659,153 shares during the quarter. Virtu Financial LLC’s holdings in Globalstar were worth $99,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Marathon Trading Investment Management LLC purchased a new stake in Globalstar in the second quarter valued at $26,000. SRS Capital Advisors Inc. purchased a new stake in Globalstar in the second quarter valued at $27,000. Stifel Financial Corp purchased a new stake in Globalstar in the first quarter valued at $32,000. Mackenzie Financial Corp purchased a new stake in Globalstar in the second quarter valued at $37,000. Finally, BNP Paribas Arbitrage SA raised its position in Globalstar by 327.7% in the second quarter. BNP Paribas Arbitrage SA now owns 23,384 shares of the Wireless communications provider’s stock valued at $42,000 after purchasing an additional 17,916 shares during the period. Hedge funds and other institutional investors own 17.02% of the company’s stock.

GSAT opened at $1.50 on Thursday. Globalstar, Inc. has a 12 month low of $0.31 and a 12 month high of $2.98. The firm has a market cap of $2.69 billion, a P/E ratio of -25.00 and a beta of -0.01. The company has a quick ratio of 0.77, a current ratio of 0.93 and a debt-to-equity ratio of 0.74.

Globalstar (NYSEAMERICAN:GSAT) last released its quarterly earnings data on Thursday, November 4th. The Wireless communications provider reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.01). Globalstar had a negative return on equity of 24.40% and a negative net margin of 82.11%. As a group, research analysts forecast that Globalstar, Inc. will post -0.06 EPS for the current fiscal year.

A number of equities research analysts have commented on GSAT shares. TheStreet upgraded Globalstar from a “d+” rating to a “c-” rating in a research report on Monday, August 30th. Zacks Investment Research cut Globalstar from a “buy” rating to a “hold” rating in a research note on Wednesday, November 10th.

About Globalstar

Globalstar, Inc engages in the provision of mobile satellite services. It offers voice and data communications services to following markets: recreation and personal; government; public safety and disaster relief; oil and gas; maritime and fishing; natural resources, mining, and forestry; construction; utilities; and transportation.

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Institutional Ownership by Quarter for Globalstar (NYSEAMERICAN:GSAT)

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