River & Mercantile Asset Management LLP boosted its holdings in shares of ORBCOMM Inc (NASDAQ:ORBC) by 20.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,566 shares of the technology company’s stock after acquiring an additional 42,566 shares during the period. River & Mercantile Asset Management LLP owned about 0.32% of ORBCOMM worth $2,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Zions Bancorporation bought a new position in ORBCOMM during the 2nd quarter worth about $101,000. FCA Corp TX bought a new position in ORBCOMM during the 3rd quarter worth about $109,000. Campbell & CO Investment Adviser LLC bought a new position in ORBCOMM during the 3rd quarter worth about $111,000. GSA Capital Partners LLP bought a new position in ORBCOMM during the 3rd quarter worth about $114,000. Finally, Family Management Corp bought a new position in ORBCOMM during the 3rd quarter worth about $114,000. Institutional investors own 77.95% of the company’s stock.
In other news, Director Jerome B. Eisenberg sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $9.49, for a total value of $47,450.00. Following the sale, the director now directly owns 925,305 shares in the company, valued at approximately $8,781,144.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.80% of the stock is currently owned by company insiders.
Several research analysts have issued reports on ORBC shares. BidaskClub cut shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. ValuEngine cut shares of ORBCOMM from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Finally, Zacks Investment Research cut shares of ORBCOMM from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.00.
NASDAQ:ORBC opened at $9.08 on Friday. ORBCOMM Inc has a fifty-two week low of $8.43 and a fifty-two week high of $11.95. The stock has a market capitalization of $730.48 million, a PE ratio of -10.81 and a beta of 1.07. The company has a current ratio of 2.80, a quick ratio of 2.16 and a debt-to-equity ratio of 0.95.
ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings results on Tuesday, October 30th. The technology company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. ORBCOMM had a negative net margin of 9.84% and a negative return on equity of 10.94%. The business had revenue of $71.04 million for the quarter, compared to analysts’ expectations of $75.37 million. During the same period last year, the business earned ($0.10) EPS. The company’s revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that ORBCOMM Inc will post -0.28 EPS for the current year.
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ORBCOMM Company Profile
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers solutions, including network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, including 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 industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime, and government.
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