Quantbot Technologies LP Grows Stake in Iridium Communications Inc. (NASDAQ:IRDM)

Quantbot Technologies LP increased its position in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 1,755.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,454 shares of the technology company's stock after buying an additional 31,651 shares during the quarter. Quantbot Technologies LP's holdings in Iridium Communications were worth $971,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its stake in shares of Iridium Communications by 30.2% in the 4th quarter. Nordea Investment Management AB now owns 248,602 shares of the technology company's stock valued at $7,264,000 after purchasing an additional 57,690 shares during the last quarter. Steward Partners Investment Advisory LLC lifted 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 buying an additional 3,838 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Iridium Communications during the fourth quarter worth about $37,000. Inspire Investing LLC boosted its stake in Iridium Communications by 185.7% during the fourth quarter. Inspire Investing LLC now owns 43,265 shares of the technology company's stock worth $1,256,000 after buying an additional 28,119 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Iridium Communications by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,093,223 shares of the technology company's stock valued at $31,725,000 after acquiring an additional 37,371 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Iridium Communications

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $28.53, for a total transaction of $356,625.00. Following the transaction, the director now directly owns 241,030 shares in the company, valued at $6,876,585.90. The trade was 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. Company insiders own 2.00% of the company's stock.

Iridium Communications Stock Down 6.6 %

Shares of NASDAQ:IRDM traded down $1.94 during trading on Friday, hitting $27.54. The company's stock had a trading volume of 1,246,704 shares, compared to its average volume of 1,116,047. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $35.85. The business has a 50 day moving average price of $29.52 and a two-hundred day moving average price of $29.45. 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 company has a market capitalization of $3.00 billion, a PE ratio of 28.99, a P/E/G ratio of 1.28 and a beta of 0.70.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share (EPS) 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 company had revenue of $212.99 million during the quarter, compared to the consensus estimate of $203.78 million. As a group, research 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 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 2.03%. Iridium Communications's dividend payout ratio (DPR) is 58.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a research report on Saturday. Cantor Fitzgerald initiated coverage on Iridium Communications in a research report on Friday, January 24th. They set an "overweight" rating and a $40.00 price target for the company. Finally, Barclays cut their price objective on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, March 10th.

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.