ORBCOMM Inc (NASDAQ:ORBC) CEO Marc Eisenberg sold 1,417 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $9.53, for a total value of $13,504.01. Following the completion of the sale, the chief executive officer now owns 293,904 shares in the company, valued at $2,800,905.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Marc Eisenberg also recently made the following trade(s):
- On Tuesday, March 7th, Marc Eisenberg sold 1,980 shares of ORBCOMM stock. The shares were sold at an average price of $9.00, for a total value of $17,820.00.
- On Wednesday, March 1st, Marc Eisenberg sold 18,020 shares of ORBCOMM stock. The shares were sold at an average price of $9.01, for a total value of $162,360.20.
Shares of ORBCOMM Inc (NASDAQ:ORBC) traded down 1.20% during trading on Monday, hitting $9.04. The stock had a trading volume of 42,982 shares. The stock’s market capitalization is $642.57 million. ORBCOMM Inc has a 52 week low of $7.15 and a 52 week high of $10.98. The stock’s 50 day moving average is $8.67 and its 200 day moving average is $8.85.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Tuesday, February 28th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.00. ORBCOMM had a negative net margin of 10.86% and a negative return on equity of 2.86%. The firm had revenue of $46.80 million for the quarter, compared to the consensus estimate of $49.47 million. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that ORBCOMM Inc will post ($0.09) earnings per share for the current fiscal year.
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Several analysts recently commented on ORBC shares. Canaccord Genuity restated a “buy” rating and issued a $14.00 target price on shares of ORBCOMM in a research report on Friday, December 2nd. Chardan Capital restated a “buy” rating and issued a $11.50 target price on shares of ORBCOMM in a research report on Thursday, March 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. ORBCOMM has an average rating of “Buy” and an average price target of $13.17.
A number of large investors have recently added to or reduced their stakes in the stock. Lebenthal Asset Management LLC increased its stake in ORBCOMM by 5.6% in the fourth quarter. Lebenthal Asset Management LLC now owns 916,621 shares of the company’s stock worth $7,580,000 after buying an additional 48,811 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in ORBCOMM during the fourth quarter worth $478,000. Guggenheim Capital LLC increased its stake in ORBCOMM by 23.9% in the fourth quarter. Guggenheim Capital LLC now owns 149,207 shares of the company’s stock worth $1,234,000 after buying an additional 28,815 shares during the last quarter. Two Sigma Investments LP increased its stake in ORBCOMM by 19.8% in the fourth quarter. Two Sigma Investments LP now owns 140,569 shares of the company’s stock worth $1,163,000 after buying an additional 23,227 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in ORBCOMM by 32.0% in the fourth quarter. Franklin Resources Inc. now owns 5,177,900 shares of the company’s stock worth $42,821,000 after buying an additional 1,255,700 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.
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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