Levy Harkins Co Inc Lowers stake in ORBCOMM Inc (ORBC)

ORBCOMM Inc (ORBC) : Levy Harkins Co Inc reduced its stake in ORBCOMM Inc by 1.81% during the most recent quarter end. The investment management company now holds a total of 2,923,217 shares of ORBCOMM Inc which is valued at $29,846,046 after selling 53,979 shares in ORBCOMM Inc , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.ORBCOMM Inc makes up approximately 13.02% of Levy Harkins Co Inc’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp reduced its stake in ORBC by selling 1,100 shares or 29.47% in the most recent quarter. The Hedge Fund company now holds 2,632 shares of ORBC which is valued at $28,110. Bnp Paribas Arbitrage Sa added ORBC to its portfolio by purchasing 2,517 company shares during the most recent quarter which is valued at $25,925.

ORBCOMM Inc closed down -0.19 points or -1.83% at $10.21 with 4,46,584 shares getting traded on Monday. Post opening the session at $10.48, the shares hit an intraday low of $10.21 and an intraday high of $10.53 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 .

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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