Fund Sells $23 Million in Globalstar as Stock Surges 170% in One Year

Published: Tuesday, February 17, 2026 at 3:19 pm

Ashford Capital Management Sells $22.66 Million in Globalstar Shares After Stock Surge

Ashford Capital Management has reduced its holdings in Globalstar, selling shares valued at $22.66 million during the fourth quarter. The transaction, detailed in a recent SEC filing, involved the sale of 410,326 shares. The sale was based on the average unadjusted closing price for the period.

Following the sale, Ashford Capital Management's stake in Globalstar now represents 6.79% of its reportable assets under management (AUM), down from 9.32% before the transaction. Despite the reduction, Globalstar remains the fund's largest holding, valued at $60.98 million. Other top holdings include Ligand Pharmaceuticals, Vicor Corporation, and Red Violet.

The decision to sell comes after a significant surge in Globalstar's stock price. Shares of Globalstar have increased by 171.8% over the past year, significantly outperforming the S&P 500. Globalstar provides mobile satellite services, including voice and data communications, GPS tracking devices, and IoT solutions. The company serves enterprise and government clients across various sectors. Globalstar recently reported record third-quarter revenue of $73.8 million, driven by wholesale capacity services. The company reaffirmed its full-year revenue guidance and reported an adjusted EBITDA margin near 50%.

The sale reflects a strategic move by Ashford Capital Management to manage risk after a substantial increase in Globalstar's stock value. While the fund maintains a significant position in Globalstar, the partial sale demonstrates disciplined capital allocation.

BNN's Perspective: This transaction highlights the importance of portfolio diversification and risk management, even when a company's fundamentals are strong. While Globalstar's performance has been impressive, the fund's decision to trim its position is a prudent approach to protect against potential volatility.

Keywords: Globalstar, GSAT, Ashford Capital Management, stock sale, SEC filing, satellite services, mobile communications, IoT, revenue, EBITDA, portfolio management, stock surge, investment, finance

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