Lebenthal Holdingsllc Lowers stake in ORBCOMM Inc (ORBC)

ORBCOMM Inc (ORBC) : Lebenthal Holdingsllc reduced its stake in ORBCOMM Inc by 0.7% during the most recent quarter end. The investment management company now holds a total of 919,263 shares of ORBCOMM Inc which is valued at $9,073,126 after selling 6,468 shares in ORBCOMM Inc , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.ORBCOMM Inc makes up approximately 1.56% of Lebenthal Holdingsllc’s portfolio.

ORBCOMM Inc closed down -0.05 points or -0.50% at $9.87 with 6,10,158 shares getting traded on Friday. Post opening the session at $9.93, the shares hit an intraday low of $9.82 and an intraday high of $9.9874 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Joel Isaacson added ORBC to its portfolio by purchasing 1,000 company shares during the most recent quarter which is valued at $9,870.Simplex Trading boosted its stake in ORBC in the latest quarter, The investment management firm added 7,231 additional shares and now holds a total of 7,314 shares of ORBCOMM Inc which is valued at $74,237. ORBCOMM Inc makes up approx 0.01% of Simplex Trading’s portfolio.Skylands Capital reduced its stake in ORBC by selling 16,290 shares or 2.73% in the most recent quarter. The Hedge Fund company now holds 580,850 shares of ORBC which is valued at $5,895,628. ORBCOMM Inc makes up approx 0.93% of Skylands Capital’s portfolio.

Many Wall Street Analysts have commented on ORBCOMM Inc. Company shares were Reiterated by Chardan Capital Markets on Mar 10, 2016 to “Buy”, Firm has raised the Price Target to $ 11.50 from a previous price target of $7.25 .

ORBCOMM Inc. is a provider of machine-to-machine (M2M) solutions including network connectivity devices and web reporting applications. The Company’s M2M products and services are designed to track monitor and enhance security for a range of assets such as trailers trucks rail cars intermodal containers generators fluid tanks marine vessels oil and gas wells pipeline monitoring equipment irrigation control systems and utility meters in the transportation and distribution heavy equipment oil and gas maritime and government industries. Additionally the Company provides Automatic Identification System (AIS) data services for vessel tracking and to improve maritime safety to government and commercial customers worldwide. The Company provides its services using multiple network platforms including its own constellation of 30 low-Earth orbit satellites one AIS microsatellite and its accompanying ground infrastructure.

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