Iridium Communications Inc. (NASDAQ:IRDM) Shares Purchased by Skylands Capital LLC

Skylands Capital LLC raised its stake in Iridium Communications Inc. (NASDAQ:IRDM) by 72.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,150 shares of the technology company’s stock after acquiring an additional 38,650 shares during the quarter. Skylands Capital LLC owned approximately 0.07% of Iridium Communications worth $3,793,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cullen Investment Group LTD. purchased a new stake in Iridium Communications during the 4th quarter worth about $1,548,000. Hsbc Holdings PLC raised its position in shares of Iridium Communications by 11.9% in the third quarter. Hsbc Holdings PLC now owns 54,578 shares of the technology company’s stock valued at $2,498,000 after buying an additional 5,823 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Iridium Communications by 92.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 43,137 shares of the technology company’s stock valued at $1,962,000 after buying an additional 20,752 shares during the period. Pacer Advisors Inc. boosted its position in Iridium Communications by 2,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 603,900 shares of the technology company’s stock worth $24,857,000 after acquiring an additional 583,896 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in Iridium Communications by 1,167.9% in the 3rd quarter. GSA Capital Partners LLP now owns 51,310 shares of the technology company’s stock worth $2,334,000 after acquiring an additional 47,263 shares during the period. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Trading Up 1.2 %

Shares of IRDM stock traded up $0.37 during mid-day trading on Monday, reaching $31.74. The company’s stock had a trading volume of 790,177 shares, compared to its average volume of 1,155,560. The company’s 50 day simple moving average is $27.30 and its 200-day simple moving average is $34.28. The company has a quick ratio of 2.52, a current ratio of 3.33 and a debt-to-equity ratio of 1.86. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $65.69. The firm has a market capitalization of $3.85 billion, a PE ratio of 149.38 and a beta of 0.85.

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

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. Iridium Communications’s payout ratio is currently 247.62%.

Analyst Upgrades and Downgrades

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