Iridium Communications Inc. (NASDAQ:IRDM) Shares Sold by Amundi

Amundi lowered its stake in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 93.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,014 shares of the technology company's stock after selling 41,502 shares during the period. Amundi's holdings in Iridium Communications were worth $88,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new stake in Iridium Communications in the fourth quarter valued at $32,000. SBI Securities Co. Ltd. purchased a new position in Iridium Communications during the fourth quarter worth about $37,000. Fifth Third Bancorp raised its stake 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. GAMMA Investing LLC lifted its holdings in shares of Iridium Communications by 44.8% in the 4th 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 last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Iridium Communications by 376.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,858 shares of the technology company's stock valued at $141,000 after purchasing an additional 3,838 shares during the period. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Iridium Communications Stock Performance

NASDAQ:IRDM traded up $0.28 during mid-day trading on Tuesday, reaching $28.47. 98,922 shares of the stock were exchanged, compared to its average volume of 1,076,480. The stock has a market capitalization of $3.10 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.28 and a beta of 0.70. Iridium Communications Inc. has a 1 year low of $24.14 and a 1 year high of $35.85. The company has a 50 day simple moving average of $29.42 and a 200-day simple moving average of $29.41. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05.

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Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.16. The business 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%. Analysts anticipate that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.56 annualized dividend and a dividend yield of 1.97%. Iridium Communications's dividend payout ratio (DPR) is 58.95%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IRDM. Cantor Fitzgerald began coverage on shares of Iridium Communications in a research note on Friday, January 24th. They set an "overweight" rating and a $40.00 price target on the stock. StockNews.com upgraded shares of Iridium Communications from a "hold" rating to a "buy" rating in a report on Friday. Finally, Barclays cut their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th.

Insider Transactions at Iridium Communications

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $28.53, for a total transaction 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 represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company's stock.

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.