Marc Eisenberg Sells 23,960 Shares of ORBCOMM Inc (ORBC) Stock

ORBCOMM Inc (NASDAQ:ORBC) CEO Marc Eisenberg sold 23,960 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $10.89, for a total transaction of $260,924.40. Following the completion of the sale, the chief executive officer now owns 366,508 shares in the company, valued at approximately $3,991,272.12. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of ORBCOMM Inc (ORBC) opened at $10.74 on Wednesday. The stock has a market cap of $797.91, a PE ratio of -13.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.79 and a quick ratio of 2.21. ORBCOMM Inc has a 12 month low of $7.77 and a 12 month high of $11.99.

ORBCOMM (NASDAQ:ORBC) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $69.37 million during the quarter, compared to analyst estimates of $65.62 million. ORBCOMM had a negative net margin of 25.32% and a negative return on equity of 8.01%. The business’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. sell-side analysts forecast that ORBCOMM Inc will post -0.84 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of ORBCOMM during the 3rd quarter valued at about $107,000. PNC Financial Services Group Inc. bought a new stake in shares of ORBCOMM during the 2nd quarter valued at about $120,000. Principal Financial Group Inc. grew its position in shares of ORBCOMM by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,575 shares of the technology company’s stock valued at $142,000 after buying an additional 569 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of ORBCOMM during the 3rd quarter valued at about $155,000. Finally, Legal & General Group Plc grew its position in shares of ORBCOMM by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock valued at $180,000 after buying an additional 670 shares during the last quarter. 77.83% of the stock is owned by institutional investors and hedge funds.

ORBC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of ORBCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub lowered shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $13.08.

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About ORBCOMM

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.

Insider Buying and Selling by Quarter for ORBCOMM (NASDAQ:ORBC)

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