Globalstar director James Monroe III buys $928k in stock

Globalstar, Inc. (NYSE:GSAT), currently trading at $19.05, has seen significant insider activity with Director James Monroe III acquiring shares. According to InvestingPro data, the stock has declined 33% over the past six months, suggesting this insider purchase comes amid notable price weakness. According to a recent SEC filing, Monroe purchased 50,000 shares of Globalstar’s voting common stock on May 12, 2025. The shares were bought at an average price of $18.5607, amounting to a total transaction value of approximately $928,035. This acquisition reflects Monroe’s ongoing investment in the company, where he holds a substantial stake through various entities. Following this transaction, Monroe’s total direct and indirect holdings amount to over 58.7 million shares. The company maintains a healthy current ratio of 2.27, with liquid assets exceeding short-term obligations. Discover more insights about GSAT’s financial health and 12 additional ProTips with a comprehensive InvestingPro subscription.

In other recent news, Globalstar Inc (NASDAQ:GSAT). reported its fourth-quarter 2024 earnings, revealing a significant shortfall in earnings per share (EPS) compared to expectations, with an EPS of -$0.42, missing the forecast of -$0.0012. Despite this, the company achieved a 17% year-over-year increase in revenue, reaching $61.17 million, surpassing the forecasted $60.24 million. In a strategic move, Globalstar also announced the appointment of two new executives to lead its terrestrial spectrum and network solutions and wholesale satellite capacity businesses, aiming to expand its service offerings. Additionally, the company inaugurated a new Satellite Operations Control Center at its headquarters in Covington, Louisiana, enhancing its ability to manage its satellite fleet and improve network performance. Globalstar’s strategic initiatives include the launch of new satellite solutions and expansion into 5G, aiming for long-term growth. The company maintains a strong cash position, ending 2024 with $391.2 million. Furthermore, Globalstar plans to create 75 new jobs in Louisiana by the end of the year, reinforcing its commitment to local economic growth. Lastly, the company anticipates revenue growth between $260 million and $285 million for 2025, with a focus on expanding its MSS network capabilities.

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