Monday, June 11, 2007

Monarch Activist Partners Raises Stake in Orbit International (ORBT) to 8.94%

In an amended 13D filing Friday afternoon on Orbit International (Nasdaq: ORBT), Monarch Activist Partners LP disclosed they raised their stake in the company to 8.94% (411K shares). This is up from the 6.1% stake (280K shares) the firm disclosed in a past filing.

The firm said it believes that ORBT's stock price is significantly undervalued and intend to communicate with management in order to explore measures to enhance shareholder value.

Labels: , ,


Post a Comment

<< Home