Jaffetilchin Investment Partners LLC Takes $635,000 Position in Iridium Communications Inc $IRDM

Key Points

• Jaffetilchin Investment Partners LLC established a new position in Iridium Communications, buying 36,528 shares in Q4 valued at approximately $635,000.
• Several other institutional investors materially increased stakes—most notably Synergy Asset Management (up 100% to 1.324M shares) and Y Intercept Hong Kong (up 2,459.5%)—leaving 84.36% of IRDM owned by institutions.
• Analysts have a consensus rating of Hold with a $25.40 price target; Iridium recently beat EPS estimates ($0.24) but missed revenue, trades near $27.74 (market cap ≈ $2.91B) and pays a $0.15 quarterly dividend (~2.2% yield).

Jaffetilchin Investment Partners LLC bought a new position in Iridium Communications Inc (NASDAQ:IRDM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 36,528 shares of the technology company's stock, valued at approximately $635,000.

A number of other institutional investors and hedge funds also recently modified their holdings of IRDM. Synergy Asset Management LLC increased its stake in Iridium Communications by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,324,366 shares of the technology company's stock worth $23,123,000 after purchasing an additional 662,183 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Iridium Communications by 2,459.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 345,226 shares of the technology company's stock worth $6,028,000 after buying an additional 331,738 shares during the period. Oak Thistle LLC purchased a new stake in Iridium Communications during the third quarter valued at about $1,074,000. Citigroup Inc. lifted its stake in Iridium Communications by 323.8% during the third quarter. Citigroup Inc. now owns 310,797 shares of the technology company's stock valued at $5,427,000 after buying an additional 237,456 shares in the last quarter. Finally, Silver Heights Capital Management Inc boosted its holdings in shares of Iridium Communications by 22.7% in the third quarter. Silver Heights Capital Management Inc now owns 5,189,703 shares of the technology company's stock worth $90,612,000 after buying an additional 961,440 shares during the period. 84.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on IRDM. Morgan Stanley lifted their target price on shares of Iridium Communications from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 18th. Weiss Ratings upgraded shares of Iridium Communications from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, March 10th. Finally, BWS Financial reaffirmed a "sell" rating and issued a $16.00 price objective on shares of Iridium Communications in a research note on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Iridium Communications has a consensus rating of "Hold" and a consensus price target of $25.40.

Iridium Communications Trading Up 3.5%

Shares of NASDAQ IRDM opened at $27.74 on Wednesday. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 3.80. Iridium Communications Inc has a one year low of $15.65 and a one year high of $33.34. The business has a 50-day moving average price of $23.40 and a two-hundred day moving average price of $19.81. The firm has a market capitalization of $2.91 billion, a PE ratio of 26.17, a PEG ratio of 1.81 and a beta of 0.60.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its earnings results on Thursday, February 12th. The technology company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $212.94 million for the quarter, compared to the consensus estimate of $219.14 million. Iridium Communications had a return on equity of 24.01% and a net margin of 13.12%.The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, analysts predict that Iridium Communications Inc will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, March 16th. Iridium Communications's dividend payout ratio is currently 56.60%.

Iridium Communications Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company's unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium's core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.

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