Teton Advisors Inc. Sells 10,000 Shares of ORBCOMM Inc (NASDAQ:ORBC)

Teton Advisors Inc. lowered its position in ORBCOMM Inc (NASDAQ:ORBC) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 512,315 shares of the technology company’s stock after selling 10,000 shares during the quarter. Teton Advisors Inc. owned approximately 0.64% of ORBCOMM worth $3,714,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Chicago Equity Partners LLC acquired a new stake in ORBCOMM in the 2nd quarter worth about $379,000. Swiss National Bank boosted its holdings in ORBCOMM by 2.0% in the 2nd quarter. Swiss National Bank now owns 139,400 shares of the technology company’s stock worth $1,011,000 after buying an additional 2,800 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in ORBCOMM in the 2nd quarter worth about $95,000. Shufro Rose & Co. LLC boosted its holdings in ORBCOMM by 51.6% in the 2nd quarter. Shufro Rose & Co. LLC now owns 47,900 shares of the technology company’s stock worth $347,000 after buying an additional 16,300 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in ORBCOMM by 11.4% in the 1st quarter. Clearbridge Investments LLC now owns 1,869,928 shares of the technology company’s stock worth $12,678,000 after buying an additional 191,946 shares during the last quarter. 86.52% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on ORBC shares. Zacks Investment Research cut ORBCOMM from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. BidaskClub upgraded ORBCOMM from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. ORBCOMM presently has a consensus rating of “Hold” and an average price target of $9.25.

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

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

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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