Universal Beteiligungs und Servicegesellschaft mbH Takes $468,000 Position in Iridium Communications Inc (NASDAQ:IRDM)

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

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in Iridium Communications by 129.8% in the 1st quarter. UMB Bank n.a. now owns 1,379 shares of the technology company's stock worth $38,000 after purchasing an additional 779 shares in the last quarter. Pinnacle Holdings LLC raised its stake in shares of Iridium Communications by 45.4% in the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after buying an additional 477 shares during the period. Cooksen Wealth LLC bought a new stake in Iridium Communications in the 1st quarter valued at $47,000. SBI Securities Co. Ltd. increased its stake in Iridium Communications by 37.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,757 shares of the technology company's stock worth $48,000 after acquiring an additional 476 shares during the last quarter. Finally, Covestor Ltd raised its position in Iridium Communications by 529.6% in the 4th quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock worth $73,000 after purchasing an additional 2,113 shares during the period. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications Price Performance

Shares of Iridium Communications stock traded down $0.37 during trading on Thursday, hitting $23.72. 877,343 shares of the company were exchanged, compared to its average volume of 1,396,463. The company has a quick ratio of 1.75, a current ratio of 2.51 and a debt-to-equity ratio of 3.82. The firm has a 50 day moving average price of $28.72 and a 200 day moving average price of $27.78. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 0.91 and a beta of 0.76. Iridium Communications Inc has a fifty-two week low of $19.91 and a fifty-two week high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The technology company reported $0.20 earnings per share 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 for the quarter, compared to analysts' expectations of $214.73 million. During the same period in the prior year, the business earned $0.27 EPS. The business's revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts expect that Iridium Communications Inc will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.60 dividend on an annualized basis and a yield of 2.5%. This is a boost from Iridium Communications's previous quarterly dividend of $0.14. Iridium Communications's dividend payout ratio (DPR) is 56.57%.

Wall Street Analyst Weigh In

IRDM has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Iridium Communications from $40.00 to $37.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Oppenheimer began coverage on Iridium Communications in a research report on Monday, May 5th. They set an "outperform" rating and a $34.00 target price on the stock. Wall Street Zen lowered Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Barclays dropped their price target on shares of Iridium Communications from $38.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, July 28th. Finally, Raymond James Financial restated 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Iridium Communications presently has an average rating of "Moderate Buy" and an average price target of $34.33.

About Iridium Communications

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.