Fox Run Management L.L.C. Purchases 25,555 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Fox Run Management L.L.C. raised its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 184.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,433 shares of the technology company's stock after acquiring an additional 25,555 shares during the quarter. Fox Run Management L.L.C.'s holdings in Iridium Communications were worth $1,144,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IRDM. KLP Kapitalforvaltning AS acquired a new stake in Iridium Communications in the fourth quarter valued at approximately $609,000. AXQ Capital LP raised its holdings in shares of Iridium Communications by 110.5% during the 4th quarter. AXQ Capital LP now owns 39,565 shares of the technology company's stock valued at $1,148,000 after purchasing an additional 20,772 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Iridium Communications by 11.1% in the 4th quarter. Sei Investments Co. now owns 153,672 shares of the technology company's stock valued at $4,460,000 after purchasing an additional 15,388 shares during the last quarter. American Century Companies Inc. increased its position in Iridium Communications by 94.2% during the fourth quarter. American Century Companies Inc. now owns 1,735,842 shares of the technology company's stock worth $50,374,000 after buying an additional 841,951 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Iridium Communications during the fourth quarter worth $300,000. Institutional investors and hedge funds own 84.36% of the company's stock.

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Analyst Upgrades and Downgrades

IRDM has been the subject of several recent analyst reports. Barclays cut their price target on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, March 10th. StockNews.com upgraded shares of Iridium Communications from a "hold" rating to a "buy" rating in a research report on Friday, March 21st. Finally, Cantor Fitzgerald assumed coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an "overweight" rating and a $40.00 price objective for the company.

Insider Activity

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the company's stock in a transaction that occurred on 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 approximately $6,876,585.90. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Iridium Communications Price Performance

Iridium Communications stock traded down $0.06 during trading hours on Thursday, hitting $29.48. 1,782,203 shares of the stock were exchanged, compared to its average volume of 1,078,608. The business's 50-day moving average is $29.53 and its two-hundred day moving average is $29.43. Iridium Communications Inc. has a 12 month low of $24.14 and a 12 month high of $35.85. The stock has a market capitalization of $3.21 billion, a P/E ratio of 31.03, a P/E/G ratio of 1.28 and a beta of 0.70. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its quarterly 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. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The business had revenue of $212.99 million during the quarter, compared to analysts' expectations of $203.78 million. Equities research analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.90%. Iridium Communications's payout ratio is currently 58.95%.

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.