Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Iridium Communications Inc (NASDAQ:IRDM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,031 shares of the technology company's stock, valued at approximately $247,000.
Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Iridium Communications by 129.8% during the 1st quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock valued at $38,000 after acquiring an additional 779 shares during the last quarter. Pinnacle Holdings LLC lifted its stake in shares of Iridium Communications by 45.4% in the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after purchasing an additional 477 shares during the period. Covestor Ltd lifted its stake in shares of Iridium Communications by 529.6% in the 4th quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock worth $73,000 after purchasing an additional 2,113 shares during the period. GAMMA Investing LLC lifted its stake in shares of Iridium Communications by 14.1% in the 1st quarter. GAMMA Investing LLC now owns 3,961 shares of the technology company's stock worth $108,000 after purchasing an additional 488 shares during the period. Finally, Millstone Evans Group LLC bought a new position in shares of Iridium Communications in the 4th quarter worth approximately $131,000. Hedge funds and other institutional investors own 84.36% of the company's stock.
Iridium Communications Stock Performance
NASDAQ IRDM traded up $0.92 on Thursday, reaching $32.11. 1,883,597 shares of the stock were exchanged, compared to its average volume of 1,183,366. Iridium Communications Inc has a one year low of $19.91 and a one year high of $35.85. The firm has a market capitalization of $3.47 billion, a PE ratio of 30.29, a PEG ratio of 1.06 and a beta of 0.79. The company's 50-day simple moving average is $28.38 and its two-hundred day simple moving average is $27.95. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 3.43.
Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. The company had revenue of $214.88 million for the quarter, compared to analysts' expectations of $211.78 million. During the same quarter last year, the business earned $0.17 EPS. 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, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Friday, June 13th. Iridium Communications's dividend payout ratio (DPR) is currently 52.83%.
Wall Street Analyst Weigh In
IRDM has been the topic of several recent research reports. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 22nd. BWS Financial lowered 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. Wall Street Zen cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Oppenheimer initiated coverage on shares of Iridium Communications in a research note on Monday, May 5th. They issued an "outperform" rating and a $34.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $34.25.
View Our Latest Report on Iridium Communications
Iridium Communications Company Profile
(
Free Report)
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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