SG Americas Securities LLC Purchases 27,279 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

SG Americas Securities LLC lifted its position in shares of Iridium Communications Inc. (NASDAQ:IRDMFree Report) by 50.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 81,727 shares of the technology company’s stock after acquiring an additional 27,279 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Iridium Communications worth $3,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Iridium Communications by 0.5% during the 1st quarter. BlackRock Inc. now owns 15,739,982 shares of the technology company’s stock worth $634,635,000 after acquiring an additional 71,031 shares during the period. Bamco Inc. NY grew its stake in shares of Iridium Communications by 0.4% during the 3rd quarter. Bamco Inc. NY now owns 14,583,317 shares of the technology company’s stock worth $663,395,000 after acquiring an additional 58,818 shares during the period. Vanguard Group Inc. grew its stake in shares of Iridium Communications by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,774,070 shares of the technology company’s stock worth $566,786,000 after acquiring an additional 213,935 shares during the period. Capital International Investors grew its stake in shares of Iridium Communications by 0.4% during the 1st quarter. Capital International Investors now owns 7,722,754 shares of the technology company’s stock worth $311,381,000 after acquiring an additional 26,978 shares during the period. Finally, State Street Corp grew its stake in shares of Iridium Communications by 2.2% during the 3rd quarter. State Street Corp now owns 5,120,966 shares of the technology company’s stock worth $227,217,000 after acquiring an additional 110,188 shares during the period. Institutional investors own 81.30% of the company’s stock.

Iridium Communications Stock Performance

NASDAQ:IRDM opened at $25.63 on Tuesday. The business’s 50-day moving average price is $31.68 and its two-hundred day moving average price is $37.68. Iridium Communications Inc. has a twelve month low of $25.27 and a twelve month high of $68.34. The stock has a market cap of $3.14 billion, a P/E ratio of 197.15 and a beta of 0.87. The company has a quick ratio of 1.37, a current ratio of 2.06 and a debt-to-equity ratio of 1.65.

Iridium Communications (NASDAQ:IRDMGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.03 by $0.27. The firm had revenue of $194.74 million for the quarter, compared to analyst estimates of $192.13 million. Iridium Communications had a return on equity of 1.58% and a net margin of 1.95%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.01) EPS. As a group, equities analysts predict that Iridium Communications Inc. will post 0.72 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.52 annualized dividend and a dividend yield of 2.03%. Iridium Communications’s dividend payout ratio (DPR) is presently 400.00%.

Analyst Ratings Changes

IRDM has been the topic of a number of recent research reports. BWS Financial cut Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, February 16th. TheStreet raised Iridium Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 15th. Raymond James dropped their price objective on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a report on Friday, February 16th. William Blair cut Iridium Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. Finally, Barclays dropped their price objective on Iridium Communications from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Iridium Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.80.

Read Our Latest Report on IRDM

Iridium Communications Profile

(Free Report)

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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Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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