Insider Selling: ORBCOMM Inc (ORBC) SVP Sells 1,092 Shares of Stock
ORBCOMM Inc (NASDAQ:ORBC) SVP Constantine Milcos sold 1,092 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $10.91, for a total transaction of $11,913.72. Following the completion of the transaction, the senior vice president now directly owns 15,946 shares of the company’s stock, valued at $173,970.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of ORBCOMM Inc (NASDAQ:ORBC) traded up $0.19 during mid-day trading on Friday, hitting $10.54. 650,900 shares of the stock traded hands, compared to its average volume of 947,037. The company has a quick ratio of 2.21, a current ratio of 2.79 and a debt-to-equity ratio of 0.99. ORBCOMM Inc has a twelve month low of $7.77 and a twelve month high of $11.99. The company has a market capitalization of $768.93, a PE ratio of -13.51 and a beta of 0.84.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). ORBCOMM had a negative return on equity of 8.01% and a negative net margin of 25.32%. The company had revenue of $69.37 million for the quarter, compared to the consensus estimate of $65.62 million. During the same period in the previous year, the business posted ($0.04) EPS. The business’s revenue for the quarter was up 49.9% on a year-over-year basis. equities research analysts expect that ORBCOMM Inc will post -0.84 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on ORBC shares. Zacks Investment Research cut shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub cut shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $13.08.
Several hedge funds have recently modified their holdings of ORBC. Schwab Charles Investment Management Inc. lifted its position in shares of ORBCOMM by 35.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 316,736 shares of the technology company’s stock worth $3,580,000 after purchasing an additional 83,715 shares during the last quarter. Rhumbline Advisers lifted its position in shares of ORBCOMM by 1.7% during the second quarter. Rhumbline Advisers now owns 73,374 shares of the technology company’s stock worth $829,000 after purchasing an additional 1,235 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ORBCOMM by 13.8% during the second quarter. Bank of New York Mellon Corp now owns 658,382 shares of the technology company’s stock worth $7,439,000 after purchasing an additional 79,649 shares during the last quarter. Legal & General Group Plc lifted its position in shares of ORBCOMM by 4.4% during the second quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock worth $180,000 after purchasing an additional 670 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of ORBCOMM by 4.7% during the second quarter. Principal Financial Group Inc. now owns 12,575 shares of the technology company’s stock worth $142,000 after purchasing an additional 569 shares during the last quarter. 77.83% of the stock is currently owned by institutional investors and hedge funds.
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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.
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