Y Intercept Hong Kong Ltd Purchases 8,142 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Y Intercept Hong Kong Ltd increased its position in Iridium Communications Inc. (NASDAQ:IRDM) by 33.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,793 shares of the technology company’s stock after purchasing an additional 8,142 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Iridium Communications were worth $952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Iridium Communications during the 3rd quarter worth approximately $57,000. Fifth Third Bancorp grew its holdings in Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after acquiring an additional 357 shares during the period. GAMMA Investing LLC raised its position in shares of Iridium Communications by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company’s stock valued at $101,000 after acquiring an additional 1,074 shares during the last quarter. KBC Group NV lifted its stake in shares of Iridium Communications by 25.9% in the 3rd quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock valued at $116,000 after purchasing an additional 781 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Iridium Communications by 491.9% in the 4th quarter. Allworth Financial LP now owns 5,747 shares of the technology company’s stock worth $167,000 after purchasing an additional 4,776 shares during the last quarter. 84.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on IRDM. Cantor Fitzgerald initiated coverage on Iridium Communications in a research note on Friday, January 24th. They issued an “overweight” rating and a $40.00 price target for the company. StockNews.com raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research note on Thursday.

Iridium Communications Trading Up 0.6 %

NASDAQ IRDM opened at $32.13 on Friday. Iridium Communications Inc. has a 12 month low of $24.14 and a 12 month high of $35.85. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. The stock has a 50 day moving average of $29.49 and a 200-day moving average of $29.11. The company has a market cap of $3.50 billion, a PE ratio of 33.82, a PEG ratio of 1.28 and a beta of 0.65.

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

Iridium Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.14 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.56 annualized dividend and a yield of 1.74%. Iridium Communications’s dividend payout ratio (DPR) is presently 58.95%.

Insider Buying and Selling at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $28.53, for a total value of $356,625.00. Following the completion of the sale, the director now owns 241,030 shares of the company’s stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

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.