Microsoft shares jump after fourth-quarter earnings beat on AI-fueled cloud growth
In a recent transaction, Monroe James III, a director and significant stakeholder of Globalstar, Inc. (NYSE:GSAT), acquired 25,000 shares of the company’s voting common stock. The shares were purchased at a volume-weighted average price of $21.8312, totaling approximately $545,780. The acquisition was executed through Thermo Properties II, LLC, a company associated with Monroe. According to InvestingPro data, the stock is trading at elevated multiples with an EV/EBITDA of 32.6x, while maintaining strong liquidity with a current ratio of 3.16x.
Following this transaction, Monroe’s indirect ownership interests in Globalstar include significant holdings across various entities, such as Thermo Funding Company and Thermo XCOM LLC, among others. This purchase adds to Monroe’s substantial stake in the satellite communications company, reflecting continued confidence in Globalstar’s market position and growth potential. InvestingPro analysis reveals the company achieved 11.9% revenue growth in the last twelve months, though analysts don’t expect profitability this year. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial analysis with a subscription to InvestingPro’s detailed research reports, available for over 1,400 US stocks.
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. The company posted an EPS of -$0.42, missing the forecast of -$0.0012, although revenue exceeded projections, reaching $61.17 million against a forecast of $60.24 million. Despite the revenue beat, which marked a 17% year-over-year increase, the substantial EPS miss impacted investor sentiment. Globalstar ended 2024 with a robust cash position of $391.2 million and announced strategic initiatives, including the launch of new satellite solutions and expansion into 5G. Additionally, the company has recently inaugurated its new Satellite Operations Control Center in Covington, Louisiana, further enhancing its capabilities in satellite management. This development is expected to create 75 new jobs in Louisiana by the end of the year. On the analyst front, there was no mention of upgrades or downgrades from firms in the recent developments provided.
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