Alps Advisors Inc. bought a new position in shares of Iridium Communications Inc (NASDAQ:IRDM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,000 shares of the technology company's stock, valued at approximately $355,000.
Several other large investors also recently bought and sold shares of the stock. Pinnacle Holdings LLC grew its position in Iridium Communications by 45.4% during 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 last quarter. IFM Investors Pty Ltd grew its position in Iridium Communications by 3.7% during the 1st quarter. IFM Investors Pty Ltd now owns 13,402 shares of the technology company's stock worth $366,000 after purchasing an additional 480 shares during the last quarter. GAMMA Investing LLC grew its position in Iridium Communications by 14.1% during 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 last quarter. Two Sigma Advisers LP grew its position in Iridium Communications by 6.6% during the 4th quarter. Two Sigma Advisers LP now owns 8,100 shares of the technology company's stock worth $235,000 after purchasing an additional 500 shares during the last quarter. Finally, EntryPoint Capital LLC grew its position in Iridium Communications by 4.1% during the 4th quarter. EntryPoint Capital LLC now owns 15,330 shares of the technology company's stock worth $445,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.36% of the company's stock.
Iridium Communications Stock Performance
NASDAQ IRDM traded down $0.03 during mid-day trading on Friday, reaching $32.08. 1,403,165 shares of the stock were exchanged, compared to its average volume of 1,188,430. The business's 50 day moving average is $28.49 and its 200-day moving average is $27.97. Iridium Communications Inc has a 1 year low of $19.91 and a 1 year high of $35.85. The company has a market capitalization of $3.47 billion, a P/E ratio of 30.26, a P/E/G ratio of 1.08 and a beta of 0.79. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.36 and a current ratio of 1.99.
Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (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 firm had revenue of $214.88 million for the quarter, compared to the consensus estimate of $211.78 million. During the same period in the prior year, the firm posted $0.17 earnings per share. On average, equities research analysts forecast 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 given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Friday, June 13th. Iridium Communications's dividend payout ratio is presently 52.83%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 22nd. Oppenheimer assumed coverage on shares of Iridium Communications in a report on Monday, May 5th. They issued an "outperform" rating and a $34.00 price objective on the stock. Wall Street Zen downgraded shares of Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, BWS Financial dropped their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Iridium Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.
Read Our Latest Stock Analysis on Iridium Communications
Iridium Communications 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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