ORBCOMM Inc (ORBC) CEO Sells $324,469.40 in Stock

ORBCOMM Inc (NASDAQ:ORBC) CEO Marc Eisenberg sold 37,729 shares of the firm’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $8.60, for a total value of $324,469.40. Following the completion of the transaction, the chief executive officer now directly owns 439,542 shares in the company, valued at $3,780,061.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Marc Eisenberg also recently made the following trade(s):

  • On Friday, January 4th, Marc Eisenberg sold 17,260 shares of ORBCOMM stock. The shares were sold at an average price of $8.52, for a total value of $147,055.20.

Shares of NASDAQ:ORBC opened at $8.80 on Friday. ORBCOMM Inc has a 1-year low of $7.62 and a 1-year high of $11.95. The company has a market cap of $672.90 million, a PE ratio of -10.48 and a beta of 1.13. The company has a current ratio of 2.80, a quick ratio of 2.16 and a debt-to-equity ratio of 0.95.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. ORBCOMM had a negative return on equity of 10.94% and a negative net margin of 9.84%. The company had revenue of $71.04 million for the quarter, compared to analyst estimates of $75.37 million. During the same quarter last year, the firm earned ($0.10) EPS. ORBCOMM’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that ORBCOMM Inc will post -0.28 EPS for the current year.

A number of analysts have issued reports on ORBC shares. BidaskClub lowered ORBCOMM from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. ValuEngine lowered ORBCOMM from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Zacks Investment Research lowered ORBCOMM from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Finally, Royal Bank of Canada reissued a “buy” rating on shares of ORBCOMM in a report on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. ORBCOMM currently has a consensus rating of “Hold” and a consensus target price of $14.67.

Several institutional investors have recently bought and sold shares of the stock. Vestor Capital LLC bought a new position in shares of ORBCOMM during the 3rd quarter worth approximately $43,000. Federated Investors Inc. PA lifted its position in shares of ORBCOMM by 13.1% during the 3rd quarter. Federated Investors Inc. PA now owns 948,621 shares of the technology company’s stock worth $10,302,000 after buying an additional 109,695 shares during the period. Marshall Wace North America L.P. bought a new position in shares of ORBCOMM during the 3rd quarter worth approximately $151,000. Marshall Wace LLP bought a new position in shares of ORBCOMM during the 3rd quarter worth approximately $155,000. Finally, Clearbridge Investments LLC lifted its position in shares of ORBCOMM by 1,064,833.3% during the 3rd quarter. Clearbridge Investments LLC now owns 1,597,400 shares of the technology company’s stock worth $17,348,000 after buying an additional 1,597,250 shares during the period. Institutional investors and hedge funds own 77.95% of the company’s stock.

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About ORBCOMM

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers solutions, including network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, including trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, 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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