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UBS Group AG (NYSE:UBS) has reported a sale of Global Star Acquisition Inc. (NASDAQ:GLST) shares, according to a recent SEC filing. The financial services giant sold 100 shares of GLST common stock on February 21, 2025, at a price of $7.68 per share, amounting to a total transaction value of $768. Following this sale, UBS Group AG holds 9,501 shares of Global Star Acquisition Inc. The stock, currently trading at $6.20, has experienced significant pressure, falling over 46% in the past six months. InvestingPro analysis suggests GLST is trading below its Fair Value.
This transaction was conducted indirectly through a subsidiary, as noted in the filing. UBS Group AG became a 10 percent beneficial owner of GLST shares involuntarily due to a corporate action outside its control, which reduced the issuer’s total shares outstanding. Despite this temporary status, all transactions by UBS were sales, ensuring no short-swing profits were realized. With a market capitalization of $44.55 million and a weak financial health score according to InvestingPro, investors should note that GLST’s current ratio of 0.08 indicates potential liquidity challenges.
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