10,676 Shares in Iridium Communications Inc. (NASDAQ:IRDM) Acquired by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co acquired a new stake in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,676 shares of the technology company's stock, valued at approximately $310,000.

Other large investors have also modified their holdings of the company. WINTON GROUP Ltd raised its stake in Iridium Communications by 7.2% during the 4th quarter. WINTON GROUP Ltd now owns 160,291 shares of the technology company's stock valued at $4,652,000 after acquiring an additional 10,775 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Iridium Communications by 32.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 93,010 shares of the technology company's stock worth $2,799,000 after purchasing an additional 22,654 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Iridium Communications by 4.1% during the fourth quarter. EntryPoint Capital LLC now owns 15,330 shares of the technology company's stock worth $445,000 after purchasing an additional 600 shares during the period. Congress Wealth Management LLC DE acquired a new stake in shares of Iridium Communications during the fourth quarter worth $438,000. Finally, Fox Run Management L.L.C. grew its position in Iridium Communications by 184.1% in the 4th quarter. Fox Run Management L.L.C. now owns 39,433 shares of the technology company's stock valued at $1,144,000 after buying an additional 25,555 shares during the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other 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 transaction of $356,625.00. Following the sale, the director now owns 241,030 shares in the company, valued at $6,876,585.90. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IRDM shares. Cantor Fitzgerald started coverage on shares of Iridium Communications in a research note on Friday, January 24th. They issued an "overweight" rating and a $40.00 target price for the company. StockNews.com lowered Iridium Communications from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Barclays cut their target price on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, March 10th.

Iridium Communications Price Performance

Shares of NASDAQ:IRDM traded down $1.32 on Friday, reaching $24.27. 311,522 shares of the company were exchanged, compared to its average volume of 1,110,800. 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 $24.13 and a 1-year high of $35.85. The company has a 50-day moving average of $29.34 and a 200-day moving average of $29.44. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 1.28 and a beta of 0.66.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.16. The company had revenue of $212.99 million during the quarter, compared to analysts' expectations of $203.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. Equities analysts forecast that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. Iridium Communications's dividend payout ratio (DPR) is 58.95%.

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.