Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Iridium Communications Inc (NASDAQ:IRDM)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Iridium Communications Inc (NASDAQ:IRDM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,125 shares of the technology company's stock, valued at approximately $468,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRDM. Sumitomo Mitsui Trust Group Inc. grew its holdings in Iridium Communications by 37.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,893,145 shares of the technology company's stock worth $106,361,000 after purchasing an additional 1,064,093 shares during the period. Norges Bank purchased a new stake in shares of Iridium Communications during the fourth quarter valued at approximately $28,240,000. Raymond James Financial Inc. purchased a new stake in shares of Iridium Communications during the fourth quarter valued at approximately $17,613,000. ArrowMark Colorado Holdings LLC grew its holdings in shares of Iridium Communications by 37.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,088,053 shares of the technology company's stock valued at $60,595,000 after buying an additional 567,164 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Iridium Communications by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,711,039 shares of the technology company's stock valued at $49,656,000 after buying an additional 291,196 shares during the last quarter. Hedge funds and other institutional investors own 84.36% of the company's stock.

Iridium Communications Trading Down 1.1%

NASDAQ:IRDM opened at $24.18 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.75 and a debt-to-equity ratio of 3.82. Iridium Communications Inc has a 12 month low of $19.91 and a 12 month high of $35.85. The company has a market cap of $2.57 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 0.89 and a beta of 0.76. The company has a 50 day simple moving average of $28.78 and a two-hundred day simple moving average of $27.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its earnings results on Thursday, July 24th. The technology company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). Iridium Communications had a return on equity of 20.28% and a net margin of 13.20%. The company had revenue of $216.91 million during the quarter, compared to the consensus estimate of $214.73 million. During the same period last year, the firm posted $0.27 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts forecast that Iridium Communications Inc will post 0.89 earnings per share for the current year.

Iridium Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.15 dividend. The ex-dividend date is Monday, September 15th. This is a boost from Iridium Communications's previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 2.5%. Iridium Communications's payout ratio is 56.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. BWS Financial cut their price target 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. Wall Street Zen cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Raymond James Financial reiterated a "strong-buy" rating and set a $39.00 price target (down previously from $47.00) on shares of Iridium Communications in a report on Friday, July 25th. Morgan Stanley cut their target price on shares of Iridium Communications from $40.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Oppenheimer assumed coverage on shares of Iridium Communications in a research report on Monday, May 5th. They issued an "outperform" rating and a $34.00 target price for the company. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Iridium Communications has an average rating of "Moderate Buy" and an average price target of $34.33.

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.

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