Elkhorn Partners Raises Position in Orbit International to 22.4%
Elkhorn Partners, Orbit International Corporation: Elkhorn Partners Limited Partnership, just now, reported boosting its position in Orbit International Corp. (NASDAQ:ORBT) to 22.4% of the company's common stock. Elkhorn increased its exposure in Orbit International to around 1.02 million shares, compared to some 959,500 shares disclosed in its latest 13F.
At the current stock price of the company, the value of the position held by Elkhorn amounts to approximately $3.4 million.
Orbit International is engaged in the production of a variety of electrical components, conducting its operations through its division, Orbit Instrument, and several wholly-owned subsidiaries. Net earnings of the company halved in year-on year terms to $0.02 per diluted share in the second quarter of 2013.
Grt Capital Partners, led by Gregory Fraser, Rudolph Kluiber, and Timothy Kroch, and Jim Simons's Renaissance Technologies reported owning 26,105 shares, and 21,000 shares respectively at the end of the second quarter.