Integrated Advisors Network LLC Takes Position in Iridium Communications Inc (NASDAQ:IRDM)

Integrated Advisors Network LLC purchased a new position in shares of Iridium Communications Inc (NASDAQ:IRDM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,837 shares of the technology company's stock, valued at approximately $296,000.

Several other large investors have also bought and sold shares of IRDM. SG Americas Securities LLC raised its position in shares of Iridium Communications by 182.8% in the 1st quarter. SG Americas Securities LLC now owns 18,109 shares of the technology company's stock valued at $495,000 after acquiring an additional 11,705 shares during the period. Avanza Fonder AB bought a new position in shares of Iridium Communications during the first quarter worth $414,000. GAMMA Investing LLC boosted its position in shares of Iridium Communications by 14.1% during the first quarter. GAMMA Investing LLC now owns 3,961 shares of the technology company's stock worth $108,000 after purchasing an additional 488 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Iridium Communications by 129.8% in the 1st quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock valued at $38,000 after buying an additional 779 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Iridium Communications by 5.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,157 shares of the technology company's stock valued at $701,000 after buying an additional 1,300 shares in the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IRDM shares. Wall Street Zen cut Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Oppenheimer started coverage on shares of Iridium Communications in a report on Monday, May 5th. They set an "outperform" rating and a $34.00 target price on the stock. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 22nd. Barclays dropped their price objective 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. Finally, BWS Financial lowered their target price on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.25.

Iridium Communications Stock Up 0.5%

IRDM stock traded up $0.15 during midday trading on Wednesday, hitting $28.75. The company's stock had a trading volume of 394,756 shares, compared to its average volume of 1,161,272. The company's fifty day moving average price is $25.54 and its 200 day moving average price is $27.82. The company has a debt-to-equity ratio of 3.43, a current ratio of 1.99 and a quick ratio of 1.36. Iridium Communications Inc has a twelve month low of $19.91 and a twelve month high of $35.85. The stock has a market capitalization of $3.11 billion, a P/E ratio of 27.07, a PEG ratio of 1.00 and a beta of 0.75.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $214.88 million during the quarter, compared to analysts' expectations of $211.78 million. Iridium Communications had a return on equity of 19.41% and a net margin of 14.68%. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, equities research analysts predict that Iridium Communications Inc will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, June 13th. Iridium Communications's dividend payout ratio (DPR) is currently 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.