Amalgamated Bank purchased a new position in ORBCOMM Inc (NASDAQ:ORBC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,114 shares of the technology company’s stock, valued at approximately $92,000.

Several other large investors have also bought and sold shares of ORBC. Clearbridge Investments LLC lifted its stake in shares of ORBCOMM by 1,064,833.3% in the third 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 in the last quarter. FMR LLC increased its position in ORBCOMM by 85.5% during the third quarter. FMR LLC now owns 838,347 shares of the technology company’s stock worth $9,104,000 after purchasing an additional 386,500 shares during the last quarter. BlackRock Inc. increased its position in ORBCOMM by 6.9% during the third quarter. BlackRock Inc. now owns 5,888,901 shares of the technology company’s stock worth $63,953,000 after purchasing an additional 378,305 shares during the last quarter. Bank of Montreal Can increased its position in ORBCOMM by 28,066.7% during the fourth quarter. Bank of Montreal Can now owns 142,242 shares of the technology company’s stock worth $1,175,000 after purchasing an additional 141,737 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in ORBCOMM by 134.1% during the third quarter. JPMorgan Chase & Co. now owns 212,645 shares of the technology company’s stock worth $2,309,000 after purchasing an additional 121,824 shares during the last quarter. 85.85% of the stock is currently owned by hedge funds and other institutional investors.

In other ORBCOMM news, CEO Marc Eisenberg sold 27,878 shares of ORBCOMM stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $7.16, for a total transaction of $199,606.48. Following the completion of the sale, the chief executive officer now directly owns 446,951 shares in the company, valued at $3,200,169.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Constantine Milcos sold 4,161 shares of ORBCOMM stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $7.16, for a total transaction of $29,792.76. Following the sale, the chief accounting officer now owns 32,846 shares of the company’s stock, valued at $235,177.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,581 shares of company stock valued at $269,080. Company insiders own 7.30% of the company’s stock.

ORBC has been the subject of several recent analyst reports. Chardan Capital cut shares of ORBCOMM from a “buy” rating to a “neutral” rating in a research report on Thursday, February 28th. Craig Hallum cut shares of ORBCOMM from a “buy” rating to a “hold” rating and cut their price objective for the stock from $13.00 to $8.50 in a research report on Thursday, February 28th. Royal Bank of Canada restated a “buy” rating on shares of ORBCOMM in a research report on Thursday, January 3rd. BidaskClub cut shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 16th. Finally, ValuEngine cut shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.25.

ORBCOMM stock opened at $7.33 on Friday. ORBCOMM Inc has a 12-month low of $6.19 and a 12-month high of $11.25. The stock has a market cap of $558.31 million, a P/E ratio of -22.21 and a beta of 0.98. The company has a quick ratio of 2.22, a current ratio of 2.82 and a debt-to-equity ratio of 0.96.

ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings data on Wednesday, February 27th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.05). ORBCOMM had a negative return on equity of 10.08% and a negative net margin of 9.51%. The firm had revenue of $66.30 million for the quarter, compared to analyst estimates of $76.07 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. ORBCOMM’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research analysts predict that ORBCOMM Inc will post -0.13 earnings per share for the current year.

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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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