GSA Capital Partners LLP Boosts Holdings in Iridium Communications Inc $IRDM

GSA Capital Partners LLP raised its holdings in shares of Iridium Communications Inc (NASDAQ:IRDM) by 365.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,962 shares of the technology company’s stock after acquiring an additional 69,053 shares during the quarter. GSA Capital Partners LLP owned approximately 0.08% of Iridium Communications worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Iridium Communications by 33.0% during the 1st quarter. Royal Bank of Canada now owns 48,325 shares of the technology company’s stock valued at $1,320,000 after buying an additional 11,985 shares in the last quarter. Amundi boosted its stake in Iridium Communications by 1,243.0% in the 1st quarter. Amundi now owns 40,479 shares of the technology company’s stock worth $1,035,000 after purchasing an additional 37,465 shares during the period. Goldman Sachs Group Inc. grew its holdings in Iridium Communications by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 232,231 shares of the technology company’s stock valued at $6,345,000 after buying an additional 33,191 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Iridium Communications during the first quarter valued at approximately $218,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Iridium Communications by 16.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 539,566 shares of the technology company’s stock worth $14,741,000 after buying an additional 75,060 shares in the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IRDM has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Iridium Communications in a report on Thursday, January 22nd. BWS Financial restated a “sell” rating and set a $16.00 price objective on shares of Iridium Communications in a research report on Tuesday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $24.00 target price (down previously from $37.00) on shares of Iridium Communications in a report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

Iridium Communications Trading Up 1.6%

Shares of NASDAQ:IRDM opened at $23.53 on Wednesday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.38 and a beta of 0.61. Iridium Communications Inc has a 1 year low of $15.65 and a 1 year high of $34.45. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.48 and a quick ratio of 1.82. The business’s 50-day moving average is $19.22 and its 200 day moving average is $19.50.

Iridium Communications (NASDAQ:IRDM) last released its earnings results on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Iridium Communications had a return on equity of 24.01% and a net margin of 13.12%.The firm had revenue of $212.94 million during the quarter, compared to the consensus estimate of $219.14 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. On average, research analysts predict that Iridium Communications Inc will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, December 15th. Iridium Communications’s payout ratio is presently 56.60%.

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.