Levy Harkins Co Inc buys $28.1 Million stake in ORBCOMM Inc (ORBC)

ORBCOMM Inc (ORBC) : Levy Harkins Co Inc scooped up 47,576 additional shares in ORBCOMM Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 26, 2016. The investment management firm now holds a total of 2,977,196 shares of ORBCOMM Inc which is valued at $28.1 Million.ORBCOMM Inc makes up approximately 11.93% of Levy Harkins Co Inc’s portfolio.

Other Hedge Funds, Including , Isf Management boosted its stake in ORBC in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 149,427 shares of ORBCOMM Inc which is valued at $1.4 Million. ORBCOMM Inc makes up approx 3.09% of Isf Management’s portfolio.Adage Capital Partners Gp L.l.c. boosted its stake in ORBC in the latest quarter, The investment management firm added 672,375 additional shares and now holds a total of 979,228 shares of ORBCOMM Inc which is valued at $9 Million. ORBCOMM Inc makes up approx 0.02% of Adage Capital Partners Gp L.l.c.’s portfolio.Geode Capital Management boosted its stake in ORBC in the latest quarter, The investment management firm added 41,579 additional shares and now holds a total of 449,396 shares of ORBCOMM Inc which is valued at $4.3 Million. Turner Investments added ORBC to its portfolio by purchasing 83,000 company shares during the most recent quarter which is valued at $789,330. ORBCOMM Inc makes up approx 0.22% of Turner Investments’s portfolio.

ORBCOMM Inc opened for trading at $9.38 and hit $9.635 on the upside on Wednesday, eventually ending the session at $9.62, with a gain of 2.34% or 0.22 points. The heightened volatility saw the trading volume jump to 4,43,734 shares. Company has a market cap of $682 M.

Many Wall Street Analysts have commented on ORBCOMM Inc. Company shares were Reiterated by First Analysis Sec on May 18, 2016 to “Overweight”, Firm has raised the Price Target to $ 14 from a previous price target of $11 .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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