State Street Corp Has $14.14 Million Position in ORBCOMM Inc. (ORBC)

State Street Corp boosted its holdings in ORBCOMM Inc. (NASDAQ:ORBC) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,250,722 shares of the technology company’s stock after acquiring an additional 76,762 shares during the quarter. State Street Corp owned 1.70% of ORBCOMM worth $14,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORBC. Principal Financial Group Inc. increased its stake 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 acquiring an additional 447 shares during the period. PNC Financial Services Group Inc. bought a new stake in ORBCOMM in the second quarter valued at about $120,000. Legal & General Group Plc increased its stake 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 acquiring an additional 670 shares during the period. Paloma Partners Management Co increased its stake 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 acquiring an additional 644 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in ORBCOMM in the second quarter valued at about $226,000. 76.00% of the stock is currently owned by institutional investors and hedge funds.

In other ORBCOMM news, Director Jerome B. Eisenberg sold 7,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $10.55, for a total transaction of $73,850.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 21,000 shares of company stock worth $231,560 over the last ninety days. Insiders own 9.50% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was posted by Ticker Report and is the property of of Ticker Report. If you are reading this report on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The original version of this report can be viewed at https://www.tickerreport.com/banking-finance/3050911/state-street-corp-has-14-14-million-position-in-orbcomm-inc-orbc.html.

A number of research firms recently weighed in on ORBC. Zacks Investment Research cut shares of ORBCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Northland Securities set a $13.00 target price on shares of ORBCOMM and gave the company a “buy” rating in a research note on Monday, August 28th. Canaccord Genuity upped their target price on shares of ORBCOMM from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, September 11th. Finally, ValuEngine raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $13.25.

Shares of ORBCOMM Inc. (NASDAQ ORBC) opened at $10.25 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.79 and a quick ratio of 2.21. ORBCOMM Inc. has a 52 week low of $7.77 and a 52 week high of $11.99.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $69.37 million for the quarter, compared to the consensus estimate of $65.62 million. ORBCOMM had a negative return on equity of 8.01% and a negative net margin of 25.32%. ORBCOMM’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. analysts forecast that ORBCOMM Inc. will post -0.84 earnings per share for the current year.

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.

Want to see what other hedge funds are holding ORBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ORBCOMM Inc. (NASDAQ:ORBC).

Institutional Ownership by Quarter for ORBCOMM (NASDAQ:ORBC)

Receive News & Ratings for ORBCOMM Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ORBCOMM Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2017 Ticker Report. Google+.