Ramius Advisors LLC Purchases Shares of 281,007 ORBCOMM Inc. (NASDAQ:ORBC)

Ramius Advisors LLC bought a new position in ORBCOMM Inc. (NASDAQ:ORBC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 281,007 shares of the technology company’s stock, valued at approximately $3,159,000. ORBCOMM makes up about 1.2% of Ramius Advisors LLC’s holdings, making the stock its 12th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of ORBC. Envestnet Asset Management Inc. raised its holdings in shares of ORBCOMM by 42.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 34,288 shares of the technology company’s stock worth $262,000 after buying an additional 10,240 shares in the last quarter. Meridian Wealth Advisors LLC acquired a new position in shares of ORBCOMM in the 1st quarter worth approximately $84,000. BNP Paribas Arbitrage SA raised its holdings in shares of ORBCOMM by 73.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 29,670 shares of the technology company’s stock worth $226,000 after buying an additional 12,538 shares in the last quarter. BlackRock Inc. raised its holdings in shares of ORBCOMM by 6.3% in the 1st quarter. BlackRock Inc. now owns 5,712,973 shares of the technology company’s stock worth $43,589,000 after buying an additional 337,164 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in ORBCOMM during the 1st quarter worth approximately $108,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered ORBCOMM from a “buy” rating to a “hold” rating in a research report on Tuesday, July 20th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.25.

ORBC remained flat at $$11.49 during mid-day trading on Wednesday. The company’s stock had a trading volume of 22 shares, compared to its average volume of 1,695,010. The company has a market cap of $915.25 million, a PE ratio of -23.45 and a beta of 1.57. The company has a quick ratio of 1.50, a current ratio of 1.92 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $11.34 and a two-hundred day moving average price of $10.72. ORBCOMM Inc. has a 52-week low of $3.32 and a 52-week high of $11.55.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Tuesday, August 3rd. The technology company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.05). ORBCOMM had a negative net margin of 15.10% and a negative return on equity of 8.21%. The firm had revenue of $65.93 million during the quarter, compared to the consensus estimate of $65.82 million. On average, equities analysts expect that ORBCOMM Inc. will post -0.17 earnings per share for the current fiscal year.

About ORBCOMM

ORBCOMM, Inc engages in the provision of network connectivity, devices, device management, and web reporting applications. Its products are designed to track, monitor, control and enhance security for a variety of assets, such as heavy equipment; fixed asset monitoring; government and homeland security; and in industries for manufacturing, warehousing, and supply chain management.

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Institutional Ownership by Quarter for ORBCOMM (NASDAQ:ORBC)

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