Dynamic Technology Lab Private Ltd Buys New Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Dynamic Technology Lab Private Ltd acquired a new stake in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 40,371 shares of the technology company's stock, valued at approximately $1,171,000.

Several other large investors also recently made changes to their positions in the stock. Fifth Third Bancorp grew its position in shares of Iridium Communications by 19.8% in the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock valued at $63,000 after acquiring an additional 357 shares during the period. EntryPoint Capital LLC lifted its holdings in Iridium Communications by 4.1% during the 4th quarter. EntryPoint Capital LLC now owns 15,330 shares of the technology company's stock valued at $445,000 after purchasing an additional 600 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Iridium Communications by 4.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the technology company's stock worth $553,000 after purchasing an additional 729 shares during the period. Ballentine Partners LLC increased its holdings in shares of Iridium Communications by 6.8% in the fourth quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company's stock valued at $340,000 after purchasing an additional 750 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Iridium Communications by 1.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 76,836 shares of the technology company's stock worth $2,230,000 after buying an additional 866 shares during the last quarter. Institutional investors and hedge funds own 84.36% of the company's stock.

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Iridium Communications Trading Down 0.6 %

NASDAQ IRDM traded down $0.14 on Friday, reaching $24.01. The company had a trading volume of 256,757 shares, compared to its average volume of 1,120,536. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 1.28 and a beta of 0.66. Iridium Communications Inc. has a fifty-two week low of $22.18 and a fifty-two week high of $35.85. The business has a 50 day moving average of $28.58 and a two-hundred day moving average of $29.21. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25.

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

Iridium Communications Announces Dividend

The firm 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 was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a yield of 2.33%. Iridium Communications's payout ratio is currently 58.95%.

Analyst Ratings Changes

Several research firms have recently commented on IRDM. Barclays decreased their target price on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. 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. Finally, StockNews.com raised Iridium Communications from a "hold" rating to a "buy" rating in a report on Sunday, April 6th.

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.