Impax Asset Management Group plc Has $987,000 Stock Position in Iridium Communications Inc. (NASDAQ:IRDM)

Impax Asset Management Group plc increased its position in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,015 shares of the technology company's stock after acquiring an additional 11,113 shares during the period. Impax Asset Management Group plc's holdings in Iridium Communications were worth $987,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in shares of Iridium Communications by 0.9% during the third quarter. State Street Corp now owns 4,269,883 shares of the technology company's stock worth $130,018,000 after acquiring an additional 36,851 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Iridium Communications by 12.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,829,052 shares of the technology company's stock valued at $82,099,000 after buying an additional 320,506 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Iridium Communications by 0.7% during the third quarter. Victory Capital Management Inc. now owns 1,609,649 shares of the technology company's stock valued at $49,014,000 after buying an additional 11,117 shares in the last quarter. FMR LLC raised its holdings in Iridium Communications by 26.7% during the third quarter. FMR LLC now owns 942,380 shares of the technology company's stock valued at $28,695,000 after buying an additional 198,360 shares in the last quarter. Finally, Barclays PLC raised its holdings in Iridium Communications by 19.2% during the third quarter. Barclays PLC now owns 856,901 shares of the technology company's stock valued at $26,093,000 after buying an additional 137,924 shares in the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, Director Thomas Fitzpatrick sold 12,500 shares of Iridium Communications stock in a transaction dated 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 directly owns 241,030 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on IRDM. StockNews.com upgraded Iridium Communications from a "hold" rating to a "buy" rating in a report on Thursday. 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 objective on the stock.

Iridium Communications Stock Performance

Shares of Iridium Communications stock traded down $0.57 during trading on Friday, reaching $31.56. The company's stock had a trading volume of 1,453,466 shares, compared to its average volume of 1,192,063. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73. The business's fifty day moving average price is $29.49 and its 200-day moving average price is $29.11. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.28 and a beta of 0.65. Iridium Communications Inc. has a one year low of $24.14 and a one year high of $35.85.

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 for the quarter, topping 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, equities research analysts predict that Iridium Communications Inc. will post 0.89 earnings per share for the current year.

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Monday, December 16th. Iridium Communications's dividend payout ratio (DPR) is presently 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.