Is Globalstar, Inc. (GSAT) a Good Stock to Buy?

Since Globalstar, Inc. (PINK:GSAT) has encountered declining sentiment from the entirety of the hedge funds we track, it’s easy to see that there is a sect of fund managers who sold off their entire stakes last quarter. Interestingly, Buckley Ratchford’s Wingspan Investment Management sold off the biggest investment of the 700 funds tracked by Insider Monkey, worth close to $0.4 million in call options, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.3 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Globalstar, Inc. (PINK:GSAT) but similarly valued. We will take a look at La Quinta Holdings Inc (NYSE:LQ), Apollo Investment Corp. (NASDAQ:AINV), WestAmerica Bancorp. (NASDAQ:WABC), and Huron Consulting Group (NASDAQ:HURN). This group of stocks’ market values match GSAT’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LQ 14 244572 0
AINV 11 8539 3
WABC 6 13538 1
HURN 12 16830 1

As you can see these stocks had an average of 11 funds with bullish positions and the average amount invested in these stocks was $71 million, versus $107 million in GSAT’s case. La Quinta Holdings Inc (NYSE:LQ) is the most popular stock in this table. On the other hand WestAmerica Bancorp. (NASDAQ:WABC) is the least popular one with only six funds holding shares. Compared to these stocks Globalstar, Inc. (PINK:GSAT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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