Iridium Communications Inc. (NASDAQ:IRDM) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lowered its stake in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 46.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,200 shares of the technology company's stock after selling 77,693 shares during the quarter. Skylands Capital LLC owned about 0.08% of Iridium Communications worth $2,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Iridium Communications by 12.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,829,052 shares of the technology company's stock worth $82,099,000 after buying an additional 320,506 shares during the period. FMR LLC increased its stake in Iridium Communications by 26.7% during the third quarter. FMR LLC now owns 942,380 shares of the technology company's stock worth $28,695,000 after acquiring an additional 198,360 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Iridium Communications in the 3rd quarter worth about $4,614,000. Barclays PLC lifted its stake in shares of Iridium Communications by 19.2% in the 3rd quarter. Barclays PLC now owns 856,901 shares of the technology company's stock valued at $26,093,000 after purchasing an additional 137,924 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Iridium Communications by 54.0% during the 3rd quarter. Algert Global LLC now owns 365,121 shares of the technology company's stock worth $11,118,000 after purchasing an additional 128,018 shares during the period. Institutional investors and hedge funds own 84.36% of the company's stock.

Iridium Communications Stock Up 0.6 %

Shares of NASDAQ IRDM traded up $0.20 on Thursday, hitting $32.13. The company had a trading volume of 1,188,237 shares, compared to its average volume of 1,185,179. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $35.85. The firm has a market capitalization of $3.50 billion, a P/E ratio of 33.82, a PEG ratio of 1.28 and a beta of 0.65. The business has a 50 day moving average of $29.49 and a two-hundred day moving average of $29.11.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its quarterly 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. The firm had revenue of $212.99 million during the quarter, compared to analysts' expectations of $203.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. As a group, equities research analysts forecast that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications's dividend payout ratio (DPR) is 58.95%.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald initiated coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an "overweight" rating and a $40.00 price target on the stock.

Insiders Place Their Bets

In other Iridium Communications 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 value of $356,625.00. Following 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

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.