Brasada Capital Management LP Sells 67,300 Shares of ORBCOMM Inc (ORBC)

Brasada Capital Management LP trimmed its position in ORBCOMM Inc (NASDAQ:ORBC) by 67.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,650 shares of the technology company’s stock after selling 67,300 shares during the quarter. Brasada Capital Management LP’s holdings in ORBCOMM were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Goodman Financial Corp raised its position in shares of ORBCOMM by 0.6% during the fourth quarter. Goodman Financial Corp now owns 645,514 shares of the technology company’s stock worth $5,332,000 after purchasing an additional 4,045 shares during the period. SG Americas Securities LLC acquired a new stake in ORBCOMM in the 4th quarter valued at approximately $224,000. Rhumbline Advisers raised its position in ORBCOMM by 53.3% in the 4th quarter. Rhumbline Advisers now owns 97,774 shares of the technology company’s stock valued at $808,000 after buying an additional 33,999 shares during the last quarter. Signet Investment Advisory Group Inc. acquired a new stake in ORBCOMM in the 4th quarter valued at approximately $61,000. Finally, Sumitomo Mitsui Asset Management Company LTD raised its position in ORBCOMM by 22.1% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 203,306 shares of the technology company’s stock valued at $1,679,000 after buying an additional 36,842 shares during the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.

Shares of ORBCOMM stock opened at $8.71 on Wednesday. ORBCOMM Inc has a 52-week low of $7.62 and a 52-week high of $11.25. The company has a market capitalization of $671.35 million, a P/E ratio of -10.37 and a beta of 1.10. The company has a current ratio of 2.80, a quick ratio of 2.16 and a debt-to-equity ratio of 0.95.

ORBC has been the topic of a number of recent research reports. BidaskClub lowered ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 16th. Royal Bank of Canada reissued a “buy” rating on shares of ORBCOMM in a research report on Thursday, January 3rd. ValuEngine lowered ORBCOMM from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Finally, Zacks Investment Research lowered ORBCOMM from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.00.

In other ORBCOMM news, CAO Constantine Milcos sold 4,201 shares of the firm’s stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $8.51, for a total value of $35,750.51. Following the completion of the transaction, the chief accounting officer now directly owns 25,116 shares in the company, valued at $213,737.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 owns 439,542 shares of the company’s stock, valued at $3,780,061.20. The disclosure for this sale can be found here. In the last three months, insiders sold 71,224 shares of company stock worth $609,805. 7.80% of the stock is owned by insiders.

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ORBCOMM Company Profile

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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Institutional Ownership by Quarter for ORBCOMM (NASDAQ:ORBC)

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