Stifel Financial Corp Acquires 1,495 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Stifel Financial Corp boosted its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,785 shares of the technology company’s stock after acquiring an additional 1,495 shares during the quarter. Stifel Financial Corp’s holdings in Iridium Communications were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRDM. Barclays PLC raised its position in 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 acquiring an additional 137,924 shares in the last quarter. Franklin Resources Inc. raised its position in Iridium Communications by 18.0% during the third quarter. Franklin Resources Inc. now owns 143,049 shares of the technology company’s stock valued at $4,296,000 after acquiring an additional 21,857 shares in the last quarter. Ballentine Partners LLC raised its position in Iridium Communications by 6.8% during the fourth 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 in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Iridium Communications by 420.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 39,597 shares of the technology company’s stock valued at $1,149,000 after purchasing an additional 31,990 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Iridium Communications during the fourth quarter valued at approximately $186,000. Institutional investors own 84.36% of the company’s stock.

Analyst Upgrades and Downgrades

IRDM has been the topic of several analyst reports. BWS Financial lowered their price target on Iridium Communications from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Oppenheimer initiated coverage on Iridium Communications in a report on Monday, May 5th. They set an “outperform” rating and a $34.00 price target on the stock. William Blair upgraded Iridium Communications from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 22nd. Cantor Fitzgerald initiated coverage on Iridium Communications in a report on Friday, January 24th. They set an “overweight” rating and a $40.00 price target on the stock. Finally, StockNews.com downgraded Iridium Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Iridium Communications has a consensus rating of “Moderate Buy” and a consensus target price of $34.25.

Iridium Communications Trading Up 2.0%

Shares of Iridium Communications stock opened at $26.98 on Tuesday. The company’s fifty day simple moving average is $25.87 and its 200-day simple moving average is $28.30. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 1.28 and a beta of 0.74. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 1 year low of $19.91 and a 1 year high of $35.85.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $214.88 million for the quarter, compared to the consensus estimate of $211.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. During the same quarter last year, the company posted $0.17 earnings per share. As a group, sell-side analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.14 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.56 annualized dividend and a dividend yield of 2.08%. Iridium Communications’s payout ratio is 52.83%.

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.