Y Intercept Hong Kong Ltd Has $952,000 Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Y Intercept Hong Kong Ltd lifted its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Iridium Communications during the 3rd quarter worth approximately $57,000. Fifth Third Bancorp increased its position in shares of Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock worth $63,000 after acquiring an additional 357 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Iridium Communications by 44.8% during the fourth quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company's stock worth $101,000 after acquiring an additional 1,074 shares during the period. KBC Group NV lifted its position in 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 acquiring an additional 781 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in 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 period. Institutional investors own 84.36% of the company's stock.

Insider Activity at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the stock in a transaction 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 in the company, valued at $6,876,585.90. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

IRDM has been the topic of several recent research reports. Cantor Fitzgerald began coverage on Iridium Communications in a research note on Friday, January 24th. They issued an "overweight" rating and a $40.00 price target on the stock. StockNews.com raised Iridium Communications from a "hold" rating to a "buy" rating in a research report on Thursday.

Iridium Communications Stock Down 2.0 %

Iridium Communications stock traded down $0.62 during mid-day trading on Monday, reaching $30.94. The company's stock had a trading volume of 880,973 shares, compared to its average volume of 1,179,513. The business's 50 day simple moving average is $29.53 and its 200 day simple moving average is $29.18. 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 Inc. has a 12 month low of $24.14 and a 12 month high of $35.85. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 1.28 and a beta of 0.65.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released 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. 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 for the quarter, compared to the consensus estimate of $203.78 million. As a group, research analysts anticipate that Iridium Communications Inc. will post 0.89 earnings per share for the current year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications's payout ratio is presently 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.