Teton Advisors Inc. Cuts Stock Holdings in ORBCOMM Inc (NASDAQ:ORBC)

Teton Advisors Inc. lowered its stake in shares of ORBCOMM Inc (NASDAQ:ORBC) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 512,315 shares of the technology company’s stock after selling 10,000 shares during the period. Teton Advisors Inc.’s holdings in ORBCOMM were worth $3,714,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of ORBCOMM by 10.5% during the fourth quarter. Legal & General Group Plc now owns 12,907 shares of the technology company’s stock worth $107,000 after acquiring an additional 1,231 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of ORBCOMM during the second quarter worth $95,000. BNP Paribas Arbitrage SA increased its position in shares of ORBCOMM by 58,476.9% during the first quarter. BNP Paribas Arbitrage SA now owns 15,230 shares of the technology company’s stock worth $103,000 after acquiring an additional 15,204 shares during the period. Matisse Capital increased its position in shares of ORBCOMM by 3.9% during the first quarter. Matisse Capital now owns 45,530 shares of the technology company’s stock worth $309,000 after acquiring an additional 1,690 shares during the period. Finally, Shufro Rose & Co. LLC increased its position in shares of ORBCOMM by 51.6% during the second quarter. Shufro Rose & Co. LLC now owns 47,900 shares of the technology company’s stock worth $347,000 after acquiring an additional 16,300 shares during the period. 86.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of ORBC stock traded up $0.07 on Friday, reaching $5.07. 782,800 shares of the stock were exchanged, compared to its average volume of 1,492,477. The company has a current ratio of 3.04, a quick ratio of 2.42 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average price is $6.96 and its 200 day moving average price is $7.28. The company has a market capitalization of $398.77 million, a price-to-earnings ratio of -15.36 and a beta of 0.99. ORBCOMM Inc has a twelve month low of $4.95 and a twelve month high of $11.25.



ORBCOMM (NASDAQ:ORBC) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The firm had revenue of $67.10 million during the quarter, compared to the consensus estimate of $67.40 million. ORBCOMM had a negative net margin of 7.71% and a negative return on equity of 8.16%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. Equities research analysts forecast that ORBCOMM Inc will post -0.22 earnings per share for the current year.

ORBC has been the topic of a number of recent research reports. Zacks Investment Research lowered ORBCOMM from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. BidaskClub raised ORBCOMM from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $9.25.

ORBCOMM Company Profile

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters in transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.

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Institutional Ownership by Quarter for ORBCOMM (NASDAQ:ORBC)

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