Shufro Rose & Co. LLC Has $347,000 Stake in ORBCOMM Inc (NASDAQ:ORBC)

Shufro Rose & Co. LLC boosted its holdings in ORBCOMM Inc (NASDAQ:ORBC) by 51.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,900 shares of the technology company’s stock after purchasing an additional 16,300 shares during the quarter. Shufro Rose & Co. LLC’s holdings in ORBCOMM were worth $347,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ORBC. Matisse Capital increased its holdings in ORBCOMM by 3.9% in the 1st quarter. Matisse Capital now owns 45,530 shares of the technology company’s stock valued at $309,000 after buying an additional 1,690 shares during the period. Geode Capital Management LLC grew its holdings in shares of ORBCOMM by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 858,710 shares of the technology company’s stock valued at $7,092,000 after purchasing an additional 67,301 shares during the last quarter. Amalgamated Bank bought a new stake in shares of ORBCOMM during the 4th quarter valued at approximately $92,000. Dimensional Fund Advisors LP grew its holdings in shares of ORBCOMM by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,642,643 shares of the technology company’s stock valued at $30,088,000 after purchasing an additional 68,369 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of ORBCOMM by 26.4% during the 4th quarter. Squarepoint Ops LLC now owns 41,661 shares of the technology company’s stock valued at $344,000 after purchasing an additional 8,708 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Shares of ORBCOMM stock traded down $0.39 during midday trading on Monday, hitting $5.11. 25,402 shares of the company traded hands, compared to its average volume of 1,390,585. The stock has a market capitalization of $438.21 million, a PE ratio of -15.41 and a beta of 1.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.10 and a current ratio of 3.04. The business has a fifty day simple moving average of $7.51. ORBCOMM Inc has a 12 month low of $5.47 and a 12 month high of $11.25.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $67.10 million for the quarter, compared to analyst estimates of $67.40 million. ORBCOMM had a negative net margin of 7.71% and a negative return on equity of 8.16%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, equities research analysts predict that ORBCOMM Inc will post -0.2 earnings per share for the current year.

Several equities research analysts recently issued reports on the stock. BidaskClub raised shares of ORBCOMM from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. Zacks Investment Research raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. ORBCOMM presently has a consensus rating of “Hold” and an average target price of $9.25.

ORBCOMM Profile

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as 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 transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.

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Institutional Ownership by Quarter for ORBCOMM (NASDAQ:ORBC)

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