Skylands Capital LLC Has $3.79 Million Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Skylands Capital LLC boosted its holdings in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 72.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,150 shares of the technology company's stock after buying an additional 38,650 shares during the period. Skylands Capital LLC owned 0.07% of Iridium Communications worth $3,793,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IRDM. Van Berkom & Associates Inc. boosted its stake in Iridium Communications by 57.5% in the 3rd quarter. Van Berkom & Associates Inc. now owns 2,059,088 shares of the technology company's stock worth $93,668,000 after buying an additional 751,595 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Iridium Communications by 2,918.9% in the 4th quarter. Pacer Advisors Inc. now owns 603,900 shares of the technology company's stock worth $24,857,000 after buying an additional 583,896 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Iridium Communications by 44.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,743,482 shares of the technology company's stock worth $71,762,000 after buying an additional 539,909 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Iridium Communications by 12.9% in the 4th quarter. ARK Investment Management LLC now owns 2,173,964 shares of the technology company's stock valued at $89,480,000 after purchasing an additional 249,185 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Iridium Communications by 14.7% in the 3rd quarter. Northern Trust Corp now owns 1,583,291 shares of the technology company's stock valued at $72,024,000 after purchasing an additional 202,702 shares in the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Stock Up 1.4 %

Iridium Communications stock traded up $0.43 during midday trading on Monday, hitting $31.80. 2,120,327 shares of the company were exchanged, compared to its average volume of 1,172,550. The company's fifty day moving average price is $27.30 and its 200-day moving average price is $34.28. The company has a market cap of $3.86 billion, a PE ratio of 151.43 and a beta of 0.85. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $65.69.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. Iridium Communications had a return on equity of 2.76% and a net margin of 3.20%. The firm had revenue of $203.80 million for the quarter, compared to analyst estimates of $193.84 million. During the same period in the previous year, the company posted $0.08 EPS. Iridium Communications's revenue for the quarter was down .7% on a year-over-year basis. On average, research analysts predict that Iridium Communications Inc. will post 0.73 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.52 annualized dividend and a yield of 1.64%. Iridium Communications's dividend payout ratio is presently 247.62%.

Wall Street Analyst Weigh In

IRDM has been the topic of several research analyst reports. BWS Financial reaffirmed a "neutral" rating and issued a $30.00 price objective on shares of Iridium Communications in a research note on Monday, April 22nd. Raymond James reduced their price objective on Iridium Communications from $53.00 to $48.00 and set a "strong-buy" rating on the stock in a research note on Friday, February 16th. Barclays lifted their price objective on Iridium Communications from $42.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday. TheStreet raised Iridium Communications from a "d+" rating to a "c-" rating in a research note on Thursday, February 15th. Finally, William Blair lowered Iridium Communications from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.75.

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.