LBP AM SA grew its holdings in shares of Iridium Communications Inc (NASDAQ:IRDM - Free Report) by 22.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,294 shares of the technology company's stock after purchasing an additional 27,219 shares during the quarter. LBP AM SA owned approximately 0.14% of Iridium Communications worth $4,079,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinnacle Holdings LLC increased its holdings in 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 acquiring an additional 477 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in Iridium Communications by 3.7% in the 1st quarter. IFM Investors Pty Ltd now owns 13,402 shares of the technology company's stock worth $366,000 after acquiring an additional 480 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 acquiring an additional 488 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Iridium Communications by 6.6% in the 4th quarter. Two Sigma Advisers LP now owns 8,100 shares of the technology company's stock worth $235,000 after acquiring an additional 500 shares in the last quarter. Finally, EntryPoint Capital LLC increased its holdings in Iridium Communications by 4.1% in the 4th quarter. EntryPoint Capital LLC now owns 15,330 shares of the technology company's stock worth $445,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently issued reports on IRDM. Oppenheimer initiated coverage on shares of Iridium Communications in a report on Monday, May 5th. They issued an "outperform" rating and a $34.00 target price for the company. William Blair upgraded Iridium Communications from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 22nd. Wall Street Zen downgraded Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, BWS Financial dropped their price target on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.
Read Our Latest Stock Report on Iridium Communications
Iridium Communications Trading Down 1.9%
IRDM traded down $0.61 during trading on Friday, reaching $31.45. The company had a trading volume of 1,113,566 shares, compared to its average volume of 1,174,623. The stock has a market cap of $3.40 billion, a P/E ratio of 29.67, a PEG ratio of 1.09 and a beta of 0.79. The business has a 50 day simple moving average of $27.93 and a 200-day simple moving average of $27.88. Iridium Communications Inc has a 52 week low of $19.91 and a 52 week high of $35.85. The company has a quick ratio of 1.36, a current ratio of 1.99 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 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Iridium Communications had a return on equity of 19.41% and a net margin of 14.68%. The business had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. During the same period last year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Iridium Communications Inc will post 0.89 EPS for the current fiscal year.
Iridium Communications Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.56 dividend on an annualized basis and a yield of 1.78%. Iridium Communications's dividend payout ratio is currently 52.83%.
About Iridium Communications
(
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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