Raging Capital Charges At These Two Stocks, Skewers More Shares

ORBCOMM Inc. (NASDAQ:ORBC) is a provider of Machine-to-Machine (M2M) communication solutions, which are designed to track, monitor, and control fixed and mobile assets in core vertical markets (e.g. transportation and distribution, heavy equipment, and industrial fixed assets, to name just a few). The shares of the company have narrowed down their year-to-date negative return to nearly 4%, thanks to a recent surge in its stock price triggered by an acquisition. On October 6, ORBCOMM announced the acquisition of the majority of WAM Technologies LLC’s assets. As stated by the company’s press release, WAM is a provider of remote wireless management and control solutions for ocean transport refrigerated containers and other related equipment, and has a significant market share within that niche segment.

Meanwhile, there were 13 hedge funds tracked by Insider Monkey with stakes in ORBCOMM at the end of the second quarter, which accumulated 22.00% of its outstanding shares, compared with 12 registered in the previous one. However, the value of the money poured into the stock decreased to $104.59 million from $105.90 million over the June quarter. Aside from Raging Capital Management, John W. Rogers’ Ariel Investments represents another top stockholder of ORBCOMM Inc. (NASDAQ:ORBC),  with 5.86 million shares.

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