Globalstar’s James Monroe III acquires $542,760 in stock

Published 19/03/2025, 21:32
Globalstar’s James Monroe III acquires $542,760 in stock

James Monroe III, a director and ten percent owner of Globalstar, Inc. (NYSE:GSAT), recently acquired 25,000 shares of the company’s voting common stock. The shares were purchased at a volume-weighted average price of $21.71 per share, amounting to a total transaction value of $542,760. The transactions were executed on March 19, 2025, as disclosed in a recent SEC filing. The purchase comes as the stock trades at $21.61, down 33% year-to-date, though analysts maintain a bullish stance with price targets ranging from $25 to $60. According to InvestingPro, the company has shown strong returns over the past five years despite recent volatility.

Following this acquisition, Monroe’s indirect ownership through various entities, including Thermo Properties II, LLC, now stands at 872,273 shares. Additionally, Monroe holds significant shares through other entities such as Thermo Funding Company and Thermo XCOM LLC, among others.

This purchase further consolidates Monroe’s substantial stake in Globalstar, reinforcing his position as a major shareholder in the communications services company.

In other recent news, Globalstar Inc (NASDAQ:GSAT). reported its fourth-quarter 2024 earnings, revealing a significant miss in earnings per share (EPS) despite surpassing revenue expectations. The company posted an EPS of -$0.42, which fell short of the forecasted -$0.0012, while revenue reached $61.17 million, exceeding the anticipated $60.24 million. This revenue represents a 17% year-over-year increase, driven by service revenue and new product launches. The company’s strong cash position was highlighted, ending the year with $391.2 million on hand. Additionally, Globalstar projects its 2025 revenue to be between $260 million and $285 million, with an adjusted EBITDA margin target of around 50%.

In other developments, Globalstar recently opened a new Satellite Operations Control Center at its headquarters in Covington, Louisiana, further strengthening its satellite management capabilities. This expansion is expected to support the company’s growth in satellite communications. Moreover, Globalstar announced strategic initiatives, including the launch of new satellite solutions and expansion into 5G, to bolster its market position. The company also completed a transfer to the NASDAQ Global Select Market, implementing a one-for-15 reverse stock split to enhance stock liquidity and marketability.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.