31,703 Shares in Iridium Communications Inc $IRDM Acquired by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC acquired a new stake in Iridium Communications Inc (NASDAQ:IRDM) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,703 shares of the technology company’s stock, valued at approximately $554,000.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its stake in shares of Iridium Communications by 74.5% during the third quarter. Pacer Advisors Inc. now owns 1,744,095 shares of the technology company’s stock worth $30,452,000 after purchasing an additional 744,836 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Iridium Communications during the 2nd quarter worth about $19,978,000. Norges Bank purchased a new position in shares of Iridium Communications in the 2nd quarter valued at about $16,297,000. Silver Heights Capital Management Inc raised its position in shares of Iridium Communications by 13.5% during the 2nd quarter. Silver Heights Capital Management Inc now owns 4,228,263 shares of the technology company’s stock worth $127,567,000 after acquiring an additional 501,400 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Iridium Communications by 20.1% during the 2nd quarter. American Century Companies Inc. now owns 2,640,658 shares of the technology company’s stock worth $79,669,000 after acquiring an additional 442,315 shares in the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Iridium Communications

In other news, CEO Matthew J. Desch acquired 20,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $17.33 per share, with a total value of $346,600.00. Following the purchase, the chief executive officer owned 1,127,019 shares of the company’s stock, valued at $19,531,239.27. This represents a 1.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. Niehaus acquired 30,000 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were purchased at an average price of $17.49 per share, with a total value of $524,700.00. Following the transaction, the director owned 297,363 shares in the company, valued at $5,200,878.87. The trade was a 11.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 30,967 shares of company stock worth $557,406 in the last three months. Insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

IRDM has been the topic of several recent analyst reports. Barclays dropped their price target on shares of Iridium Communications from $31.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $24.00 target price (down from $37.00) on shares of Iridium Communications in a research report on Friday, January 16th. Weiss Ratings cut shares of Iridium Communications from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, BWS Financial restated a “sell” rating and issued a $16.00 price objective on shares of Iridium Communications in a research note on Friday, October 24th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Iridium Communications has a consensus rating of “Hold” and a consensus target price of $27.50.

Iridium Communications Price Performance

Shares of IRDM opened at $19.62 on Thursday. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.93 and a current ratio of 2.67. Iridium Communications Inc has a fifty-two week low of $15.65 and a fifty-two week high of $34.45. The firm has a 50-day simple moving average of $17.61 and a 200-day simple moving average of $20.70. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.16 and a beta of 0.55.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, October 23rd. The technology company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.26 by $0.09. Iridium Communications had a return on equity of 24.93% and a net margin of 14.44%.The firm had revenue of $226.94 million during the quarter, compared to the consensus estimate of $222.13 million. During the same period in the prior year, the business earned $0.21 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Iridium Communications Inc will post 0.89 earnings per share for the current year.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 3.1%. Iridium Communications’s dividend payout ratio (DPR) is currently 53.10%.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.