ORBCOMM Inc. (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 24,000 shares of ORBCOMM stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $11.04, for a total transaction of $264,960.00. Following the sale, the director now owns 1,056,141 shares of the company’s stock, valued at approximately $11,659,796.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Jerome B. Eisenberg also recently made the following trade(s):

  • On Tuesday, August 1st, Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock. The stock was sold at an average price of $11.51, for a total transaction of $80,570.00.

Shares of ORBCOMM Inc. (NASDAQ ORBC) traded down 3.71% on Thursday, reaching $10.91. 414,908 shares of the company were exchanged. The company’s 50-day moving average price is $11.40 and its 200 day moving average price is $9.95. ORBCOMM Inc. has a 12 month low of $7.15 and a 12 month high of $11.99. The company’s market cap is $801.86 million.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.05. ORBCOMM had a negative net margin of 15.52% and a negative return on equity of 6.16%. The business had revenue of $56.96 million during the quarter, compared to the consensus estimate of $52.93 million. During the same quarter last year, the business earned ($0.06) EPS. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts expect that ORBCOMM Inc. will post ($0.36) EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORBC. Gamco Investors INC. ET AL raised its position in ORBCOMM by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 56,323 shares of the technology company’s stock valued at $538,000 after buying an additional 165 shares during the last quarter. Principal Financial Group Inc. raised its position in ORBCOMM by 3.9% in the first quarter. Principal Financial Group Inc. now owns 12,006 shares of the technology company’s stock valued at $115,000 after buying an additional 447 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in ORBCOMM by 0.3% in the second quarter. TIAA CREF Investment Management LLC now owns 174,025 shares of the technology company’s stock valued at $1,966,000 after buying an additional 550 shares during the last quarter. Paloma Partners Management Co raised its position in ORBCOMM by 3.3% in the first quarter. Paloma Partners Management Co now owns 19,881 shares of the technology company’s stock valued at $190,000 after buying an additional 644 shares during the last quarter. Finally, Legal & General Group Plc raised its position in ORBCOMM by 4.4% in the second quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock valued at $180,000 after buying an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 79.75% of the company’s stock.

Several brokerages have recently commented on ORBC. Craig Hallum set a $13.00 price target on shares of ORBCOMM and gave the stock a “buy” rating in a research report on Tuesday, June 13th. Benchmark Co. began coverage on shares of ORBCOMM in a research report on Tuesday, April 25th. They set a “buy” rating and a $13.00 price target for the company. ValuEngine cut shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target on shares of ORBCOMM in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $12.90.

ORBCOMM Company Profile

ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government.

Insider Buying and Selling by Quarter for ORBCOMM (NASDAQ:ORBC)

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