Iridium Communications Inc (NASDAQ:IRDM) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its position in shares of Iridium Communications Inc (NASDAQ:IRDM - Free Report) by 467.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 224,764 shares of the technology company's stock after buying an additional 185,167 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.21% of Iridium Communications worth $6,141,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IRDM. Pinnacle Holdings LLC increased its holdings in shares of Iridium Communications by 45.4% during the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock valued at $44,000 after purchasing an additional 477 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Iridium Communications by 3.7% during the 1st quarter. IFM Investors Pty Ltd now owns 13,402 shares of the technology company's stock valued at $366,000 after purchasing an additional 480 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Iridium Communications by 14.1% during the 1st quarter. GAMMA Investing LLC now owns 3,961 shares of the technology company's stock valued at $108,000 after purchasing an additional 488 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Iridium Communications by 6.6% during the 4th quarter. Two Sigma Advisers LP now owns 8,100 shares of the technology company's stock valued at $235,000 after purchasing an additional 500 shares in the last quarter. Finally, EntryPoint Capital LLC increased its holdings in shares of Iridium Communications by 4.1% during the 4th quarter. EntryPoint Capital LLC now owns 15,330 shares of the technology company's stock valued at $445,000 after purchasing an additional 600 shares in the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

Iridium Communications Trading Down 0.5%

IRDM traded down $0.15 on Tuesday, hitting $31.87. The company had a trading volume of 1,009,493 shares, compared to its average volume of 1,168,553. The firm has a market cap of $3.45 billion, a P/E ratio of 30.07, a PEG ratio of 1.08 and a beta of 0.79. Iridium Communications Inc has a 1 year low of $19.91 and a 1 year high of $35.85. The company's fifty day moving average price is $27.35 and its 200 day moving average price is $27.79. 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 issued its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $214.88 million for the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a net margin of 14.68% and a return on equity of 19.41%. During the same period in the previous year, the firm earned $0.17 EPS. As a group, equities analysts expect that Iridium Communications Inc will post 0.89 earnings per share for the current year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 dividend yield of 1.76%. The ex-dividend date of this dividend was Friday, June 13th. Iridium Communications's dividend payout ratio is presently 52.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of Iridium Communications in a research note on Monday, May 5th. They issued an "outperform" rating and a $34.00 price target on the stock. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 22nd. Wall Street Zen cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Barclays lowered their target price on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. Finally, BWS Financial lowered their target price 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $34.25.

Iridium Communications Company 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.