Emerald Advisers Inc. PA held its stake in shares of Orbcomm Inc. (NASDAQ:ORBC) during the second quarter, Holdings Channel reports. The institutional investor owned 29,542 shares of the company’s stock at the end of the second quarter. Emerald Advisers Inc. PA’s holdings in Orbcomm were worth $294,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the stock. Cupps Capital Management LLC increased its stake in shares of Orbcomm by 62.0% in the first quarter. Cupps Capital Management LLC now owns 17,360 shares of the company’s stock valued at $175,000 after buying an additional 6,645 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Orbcomm during the first quarter valued at $655,000. Global Alpha Capital Management Ltd. increased its stake in shares of Orbcomm by 38.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 325,300 shares of the company’s stock valued at $3,295,000 after buying an additional 90,300 shares in the last quarter. Skylands Capital LLC increased its stake in shares of Orbcomm by 1.1% in the second quarter. Skylands Capital LLC now owns 587,150 shares of the company’s stock valued at $5,842,000 after buying an additional 6,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Orbcomm by 219.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 979,228 shares of the company’s stock valued at $9,920,000 after buying an additional 672,375 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors.
Shares of Orbcomm Inc. (NASDAQ:ORBC) traded up 0.154% on Wednesday, reaching $9.735. The company had a trading volume of 200,711 shares. The firm’s market capitalization is $691.05 million. The company’s 50-day moving average price is $10.01 and its 200 day moving average price is $9.93. Orbcomm Inc. has a 52 week low of $5.73 and a 52 week high of $10.98.
Orbcomm (NASDAQ:ORBC) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by $0.02. Orbcomm had a negative net margin of 2.41% and a negative return on equity of 1.08%. The firm earned $50.10 million during the quarter, compared to analysts’ expectations of $49 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts expect that Orbcomm Inc. will post ($0.15) EPS for the current year.
A number of equities research analysts recently commented on the company. Canaccord Genuity reaffirmed a “buy” rating and set a $15.00 target price on shares of Orbcomm in a report on Wednesday, August 10th. Chardan Capital reaffirmed a “buy” rating and set a $11.50 target price on shares of Orbcomm in a report on Monday, August 8th. Finally, Zacks Investment Research downgraded Orbcomm from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Orbcomm presently has an average rating of “Buy” and a consensus price target of $12.05.
In other Orbcomm news, Director Jerome B. Eisenberg sold 5,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $10.06, for a total transaction of $50,300.00. Following the completion of the transaction, the director now owns 993,791 shares of the company’s stock, valued at $9,997,537.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.50% of the stock is owned by corporate insiders.
Orbcomm Company Profile
ORBCOMM Inc is a provider of machine-to-machine (M2M) solutions, including network connectivity, devices and Web reporting applications. The Company’s M2M products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, intermodal 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 the transportation and distribution, heavy equipment, oil and gas, maritime and government industries.
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