Iridium Communications Inc. (NASDAQ:IRDM) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lessened its stake in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 46.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 91,200 shares of the technology company’s stock after selling 77,693 shares during the quarter. Skylands Capital LLC’s holdings in Iridium Communications were worth $2,647,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Iridium Communications by 12.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,829,052 shares of the technology company’s stock worth $82,099,000 after buying an additional 320,506 shares during the last quarter. FMR LLC boosted its holdings in Iridium Communications by 26.7% during the third quarter. FMR LLC now owns 942,380 shares of the technology company’s stock worth $28,695,000 after buying an additional 198,360 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Iridium Communications during the third quarter worth about $4,614,000. Barclays PLC raised its position in Iridium Communications by 19.2% in the 3rd quarter. Barclays PLC now owns 856,901 shares of the technology company’s stock valued at $26,093,000 after buying an additional 137,924 shares during the last quarter. Finally, Algert Global LLC grew its stake in Iridium Communications by 54.0% in the third quarter. Algert Global LLC now owns 365,121 shares of the technology company’s stock valued at $11,118,000 after purchasing an additional 128,018 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald began coverage on Iridium Communications in a report on Friday, January 24th. They issued an “overweight” rating and a $40.00 price objective for the company.

Iridium Communications Price Performance

Shares of NASDAQ IRDM opened at $31.08 on Monday. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $35.85. The stock has a fifty day moving average of $29.31 and a 200-day moving average of $29.01. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock has a market cap of $3.38 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.28 and a beta of 0.65.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. The firm had revenue of $212.99 million for the quarter, compared to the consensus estimate of $203.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. Equities research analysts anticipate that Iridium Communications Inc. will post 0.89 earnings per share for the current year.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.14 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.56 annualized dividend and a yield of 1.80%. Iridium Communications’s dividend payout ratio (DPR) is presently 58.95%.

Insider Activity at Iridium Communications

In related news, Director Thomas Fitzpatrick sold 12,500 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $28.53, for a total value of $356,625.00. Following the transaction, the director now directly owns 241,030 shares of the company’s stock, valued at approximately $6,876,585.90. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

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.