Natixis Advisors LLC Has $472,000 Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Natixis Advisors LLC lowered its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 69.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,490 shares of the technology company's stock after selling 35,002 shares during the period. Natixis Advisors LLC's holdings in Iridium Communications were worth $472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IRDM. State of Alaska Department of Revenue lifted its holdings in shares of Iridium Communications by 2.8% during the third quarter. State of Alaska Department of Revenue now owns 13,750 shares of the technology company's stock valued at $418,000 after acquiring an additional 375 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Iridium Communications by 4.2% during the second quarter. Daiwa Securities Group Inc. now owns 11,389 shares of the technology company's stock valued at $303,000 after acquiring an additional 462 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Iridium Communications by 25.2% during the third quarter. GAMMA Investing LLC now owns 2,399 shares of the technology company's stock valued at $73,000 after acquiring an additional 483 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Iridium Communications by 6.2% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,480 shares of the technology company's stock valued at $306,000 after acquiring an additional 671 shares during the period. Finally, Mcdonald Partners LLC lifted its holdings in shares of Iridium Communications by 4.1% during the second quarter. Mcdonald Partners LLC now owns 17,925 shares of the technology company's stock valued at $477,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 84.36% of the company's stock.

Insider Buying and Selling at Iridium Communications

In related news, Director Robert H. Niehaus sold 38,355 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $29.39, for a total value of $1,127,253.45. Following the completion of the sale, the director now directly owns 254,824 shares in the company, valued at approximately $7,489,277.36. This trade represents a 13.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Suzanne E. Mcbride sold 4,420 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $29.48, for a total value of $130,301.60. Following the transaction, the insider now directly owns 182,797 shares in the company, valued at approximately $5,388,855.56. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Iridium Communications Price Performance

Shares of Iridium Communications stock traded up $0.12 during trading on Friday, reaching $29.72. The company's stock had a trading volume of 826,864 shares, compared to its average volume of 1,085,773. The stock has a market capitalization of $3.38 billion, a P/E ratio of 31.49 and a beta of 0.65. Iridium Communications Inc. has a one year low of $24.14 and a one year high of $41.66. The company has a current ratio of 2.62, a quick ratio of 2.01 and a debt-to-equity ratio of 2.68. The stock has a 50-day moving average price of $29.71 and a two-hundred day moving average price of $28.24.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $212.77 million during the quarter, compared to analyst estimates of $205.68 million. Iridium Communications had a return on equity of 14.34% and a net margin of 14.09%. As a group, sell-side analysts anticipate that Iridium Communications Inc. will post 0.8 EPS for the current fiscal year.

Iridium Communications declared that its board has authorized a share repurchase program on Thursday, September 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 14.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Separately, BWS Financial reissued a "neutral" rating and set a $30.00 price objective on shares of Iridium Communications in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.00.

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.