Gotham Asset Management LLC Has $20.41 Million Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Gotham Asset Management LLC boosted its stake in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 703,393 shares of the technology company's stock after acquiring an additional 65,349 shares during the period. Gotham Asset Management LLC owned 0.62% of Iridium Communications worth $20,412,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IRDM. Barclays PLC grew its holdings in shares of Iridium Communications by 19.2% during the third quarter. Barclays PLC now owns 856,901 shares of the technology company's stock valued at $26,093,000 after buying an additional 137,924 shares during the last quarter. Franklin Resources Inc. boosted its stake in Iridium Communications by 18.0% in the 3rd quarter. Franklin Resources Inc. now owns 143,049 shares of the technology company's stock worth $4,296,000 after purchasing an additional 21,857 shares during the period. GAMMA Investing LLC grew its stake in Iridium Communications by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company's stock valued at $101,000 after acquiring an additional 1,074 shares in the last quarter. Nordea Investment Management AB lifted its position in Iridium Communications by 30.2% during the fourth quarter. Nordea Investment Management AB now owns 248,602 shares of the technology company's stock valued at $7,264,000 after purchasing an additional 57,690 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in shares of Iridium Communications by 6.8% in the 4th quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company's stock valued at $340,000 after acquiring an additional 750 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IRDM has been the topic of a number of analyst reports. Barclays cut their price objective on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. BWS Financial dropped their price objective 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. StockNews.com lowered Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Oppenheimer began coverage on Iridium Communications in a report on Monday, May 5th. They issued an "outperform" rating and a $34.00 price target for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Iridium Communications in a report on Friday, January 24th. They set an "overweight" rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Iridium Communications has an average rating of "Moderate Buy" and an average target price of $34.25.

Iridium Communications Stock Down 2.2%

Shares of IRDM stock traded down $0.58 during trading on Tuesday, reaching $26.40. The company's stock had a trading volume of 55,205 shares, compared to its average volume of 1,136,823. Iridium Communications Inc. has a 1-year low of $19.91 and a 1-year high of $35.85. The stock's 50-day moving average price is $25.87 and its 200 day moving average price is $28.30. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 1.28 and a beta of 0.74.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (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 the consensus estimate of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same period in the prior year, the firm earned $0.17 EPS. On average, research analysts anticipate that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Monday, March 17th. Iridium Communications's payout ratio is 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.