90,552 Shares in Iridium Communications Inc. (NASDAQ:IRDM) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in Iridium Communications Inc. (NASDAQ:IRDM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 90,552 shares of the technology company’s stock, valued at approximately $3,727,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IRDM. Advisor Partners II LLC lifted its position in shares of Iridium Communications by 1.9% during the 1st quarter. Advisor Partners II LLC now owns 8,589 shares of the technology company’s stock worth $532,000 after buying an additional 163 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Iridium Communications by 2.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,371 shares of the technology company’s stock worth $580,000 after buying an additional 192 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Iridium Communications by 0.8% during the 2nd quarter. Captrust Financial Advisors now owns 24,362 shares of the technology company’s stock worth $1,513,000 after buying an additional 202 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Iridium Communications by 1.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 13,582 shares of the technology company’s stock worth $603,000 after buying an additional 223 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Iridium Communications by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 32,269 shares of the technology company’s stock worth $1,468,000 after buying an additional 272 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IRDM. Raymond James lowered their price target on shares of 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 shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. Barclays lowered their price target on shares of Iridium Communications from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. BWS Financial cut shares of Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Friday, February 16th. Finally, TheStreet raised shares of Iridium Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Iridium Communications has a consensus rating of “Moderate Buy” and an average price target of $49.80.

Iridium Communications Stock Down 0.3 %

Iridium Communications stock opened at $24.71 on Thursday. Iridium Communications Inc. has a 1-year low of $24.14 and a 1-year high of $68.34. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 190.08 and a beta of 0.85. The company has a current ratio of 2.06, a quick ratio of 1.37 and a debt-to-equity ratio of 1.65. The firm has a 50 day simple moving average of $27.98 and a 200 day simple moving average of $35.11.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, February 15th. The technology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.27. Iridium Communications had a net margin of 1.95% and a return on equity of 1.58%. The business had revenue of $194.74 million during the quarter, compared to analyst estimates of $192.13 million. During the same period in the previous year, the business earned ($0.01) EPS. Iridium Communications’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that Iridium Communications Inc. will post 0.72 earnings per share for the current year.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.13 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a yield of 2.10%. Iridium Communications’s dividend payout ratio is 400.00%.

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.