Blair William & Co. IL Has $7.58 Million Stake in Iridium Communications Inc. (NASDAQ:IRDM)

Blair William & Co. IL reduced its stake in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,138 shares of the technology company's stock after selling 29,813 shares during the period. Blair William & Co. IL owned 0.23% of Iridium Communications worth $7,578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Plato Investment Management Ltd bought a new position in Iridium Communications during the fourth quarter worth about $32,000. SBI Securities Co. Ltd. acquired a new position in Iridium Communications during the fourth quarter valued at approximately $37,000. Fifth Third Bancorp grew its holdings in Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock valued at $63,000 after purchasing an additional 357 shares during the period. GAMMA Investing LLC increased its stake in Iridium Communications by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company's stock valued at $101,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Iridium Communications in the fourth quarter worth $131,000. 84.36% of the stock is currently owned by institutional investors.

Iridium Communications Stock Down 4.3 %

IRDM traded down $1.15 during trading hours on Thursday, hitting $25.88. 200,024 shares of the company's stock were exchanged, compared to its average volume of 1,249,742. The stock's 50-day moving average is $29.42 and its two-hundred day moving average is $29.46. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 1-year low of $24.14 and a 1-year high of $35.85. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.28 and a beta of 0.66.

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Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.15 by $0.16. The company had revenue of $212.99 million during 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%. Sell-side analysts predict that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.14 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.16%. Iridium Communications's payout ratio is 58.95%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of Iridium Communications stock in a transaction on Friday, January 10th. The shares were sold at an average price of $28.53, for a total transaction of $356,625.00. Following the completion of the transaction, the director now directly owns 241,030 shares of the company's stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

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.