ORBCOMM Inc. (NASDAQ:ORBC) Shares Sold by Skylands Capital LLC

Skylands Capital LLC decreased its position in ORBCOMM Inc. (NASDAQ:ORBC) by 37.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 377,650 shares of the technology company’s stock after selling 224,850 shares during the period. Skylands Capital LLC owned 0.53% of ORBCOMM worth $4,267,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ORBC. Gamco Investors INC. ET AL increased its position in shares of ORBCOMM by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 56,323 shares of the technology company’s stock worth $538,000 after buying an additional 165 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in ORBCOMM by 118.9% in the first quarter. UBS Asset Management Americas Inc. now owns 27,581 shares of the technology company’s stock valued at $263,000 after buying an additional 14,981 shares during the period. Swiss National Bank boosted its stake in ORBCOMM by 5.0% in the first quarter. Swiss National Bank now owns 105,100 shares of the technology company’s stock valued at $1,004,000 after buying an additional 5,000 shares during the period. Suntrust Banks Inc. boosted its stake in ORBCOMM by 8.1% in the first quarter. Suntrust Banks Inc. now owns 37,523 shares of the technology company’s stock valued at $357,000 after buying an additional 2,807 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in ORBCOMM by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 578,733 shares of the technology company’s stock valued at $5,526,000 after buying an additional 40,751 shares during the period. Hedge funds and other institutional investors own 80.48% of the company’s stock.

ORBCOMM Inc. (ORBC) traded down 1.29% on Tuesday, reaching $11.46. The company had a trading volume of 180,646 shares. The stock’s market capitalization is $821.32 million. The firm has a 50-day moving average of $11.34 and a 200-day moving average of $9.71. ORBCOMM Inc. has a 12 month low of $7.15 and a 12 month high of $11.99.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). ORBCOMM had a negative return on equity of 4.69% and a negative net margin of 12.69%. The firm had revenue of $51.90 million during the quarter, compared to the consensus estimate of $48.59 million. During the same period in the prior year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities research analysts expect that ORBCOMM Inc. will post ($0.23) earnings per share for the current fiscal year.

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Several research firms have issued reports on ORBC. Zacks Investment Research raised ORBCOMM from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Friday, July 14th. Craig Hallum set a $13.00 target price on ORBCOMM and gave the stock a “buy” rating in a research note on Tuesday, June 13th. ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Benchmark Co. assumed coverage on ORBCOMM in a research note on Tuesday, April 25th. They issued a “buy” rating and a $13.00 price objective for the company. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price objective on shares of ORBCOMM in a research note on Tuesday, April 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $12.90.

In related news, Director Jerome B. Eisenberg sold 7,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $11.18, for a total value of $78,260.00. Following the completion of the sale, the director now directly owns 962,780 shares in the company, valued at approximately $10,763,880.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Eisenberg sold 6,304 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $10.00, for a total value of $63,040.00. Following the completion of the sale, the chief executive officer now owns 261,020 shares of the company’s stock, valued at $2,610,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,304 shares of company stock valued at $457,200. 9.50% of the stock is owned by insiders.

About ORBCOMM

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.