Aquatic Capital Management LLC Has $2.06 Million Stake in Iridium Communications Inc. (NASDAQ:IRDM)

Aquatic Capital Management LLC boosted its position in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 74.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,083 shares of the technology company's stock after buying an additional 30,283 shares during the period. Aquatic Capital Management LLC owned approximately 0.06% of Iridium Communications worth $2,063,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd bought a new position in shares of Iridium Communications in the fourth quarter worth about $32,000. SBI Securities Co. Ltd. bought a new position in shares of Iridium Communications in the fourth quarter worth about $37,000. Pinnacle Holdings LLC lifted its holdings in shares of Iridium Communications by 45.4% in the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after acquiring an additional 477 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Iridium Communications by 19.8% in the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock worth $63,000 after acquiring an additional 357 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Iridium Communications by 529.6% in the fourth quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock worth $73,000 after acquiring an additional 2,113 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IRDM. Barclays reduced their target price on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, March 10th. Cantor Fitzgerald initiated coverage on shares of Iridium Communications in a research note on Friday, January 24th. They issued an "overweight" rating and a $40.00 price objective on the stock. StockNews.com cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. BWS Financial reduced their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.33.

Iridium Communications Price Performance

IRDM stock opened at $24.16 on Tuesday. The stock has a market capitalization of $2.61 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 1.28 and a beta of 0.66. The company's 50-day moving average is $27.03 and its 200-day moving average is $28.63. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. Iridium Communications Inc. has a 1 year low of $19.91 and a 1 year high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The firm had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. During the same quarter last year, the business posted $0.17 EPS. Equities research analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.14 per share. The ex-dividend date was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.32%. Iridium Communications's payout ratio is 52.83%.

Iridium Communications Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.

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