Iridium Communications Inc. (NASDAQ:IRDM) Shares Purchased by Lbp Am Sa

LBP AM SA grew its stake in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 67.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 122,075 shares of the technology company's stock after buying an additional 48,975 shares during the quarter. LBP AM SA owned 0.11% of Iridium Communications worth $3,543,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Fifth Third Bancorp increased its position in 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 buying an additional 357 shares during the period. Commonwealth Equity Services LLC raised its holdings 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 in the last quarter. Ballentine Partners LLC raised its holdings in Iridium Communications by 6.8% during the fourth quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company's stock worth $340,000 after purchasing an additional 750 shares in the last quarter. KBC Group NV raised its holdings in Iridium Communications by 25.9% during the third quarter. KBC Group NV now owns 3,796 shares of the technology company's stock worth $116,000 after purchasing an additional 781 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in Iridium Communications by 1.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 76,836 shares of the technology company's stock valued at $2,230,000 after buying an additional 866 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company's stock.

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Insider Activity at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 241,030 shares of the company's stock, valued at $6,876,585.90. This represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by insiders.

Iridium Communications Trading Up 0.2 %

Shares of IRDM stock traded up $0.06 during mid-day trading on Monday, hitting $27.65. 1,110,380 shares of the company's stock were exchanged, compared to its average volume of 1,066,318. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $35.85. The stock has a 50-day simple moving average of $29.52 and a two-hundred day simple moving average of $29.38. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.28 and a beta of 0.70.

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 (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $203.78 million. Equities analysts expect that Iridium Communications Inc. will post 0.89 EPS 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 $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, March 17th. Iridium Communications's dividend payout ratio is presently 58.95%.

Wall Street Analyst Weigh In

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

About Iridium Communications

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.