Van Berkom & Associates Inc. Reduces Position in Iridium Communications Inc. (NASDAQ:IRDM)

Van Berkom & Associates Inc. trimmed its position in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,171,950 shares of the technology company's stock after selling 358,567 shares during the quarter. Iridium Communications comprises 2.7% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 11th biggest position. Van Berkom & Associates Inc. owned 2.79% of Iridium Communications worth $92,050,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in Iridium Communications by 30.2% in the fourth quarter. Nordea Investment Management AB now owns 248,602 shares of the technology company's stock valued at $7,264,000 after acquiring an additional 57,690 shares during the last quarter. Impax Asset Management Group plc purchased a new stake in Iridium Communications in the third quarter valued at $697,000. Thrivent Financial for Lutherans lifted its stake in shares of Iridium Communications by 19.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 130,370 shares of the technology company's stock valued at $3,970,000 after purchasing an additional 21,522 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Iridium Communications by 545.7% during the 3rd quarter. Blue Trust Inc. now owns 9,628 shares of the technology company's stock worth $293,000 after purchasing an additional 8,137 shares during the period. Finally, Riverwater Partners LLC increased its position in shares of Iridium Communications by 406.3% during the 3rd quarter. Riverwater Partners LLC now owns 85,146 shares of the technology company's stock worth $2,666,000 after purchasing an additional 68,329 shares during the last quarter. Hedge funds and other institutional investors own 84.36% of the company's stock.

Insider Buying and Selling

In related news, Director Thomas Fitzpatrick sold 12,500 shares of the business's stock in a transaction 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 transaction, the director now directly owns 241,030 shares of the company's stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

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

Iridium Communications Trading Down 1.0 %

NASDAQ:IRDM traded down $0.33 during trading hours on Tuesday, reaching $31.11. 509,760 shares of the stock were exchanged, compared to its average volume of 1,157,432. Iridium Communications Inc. has a twelve month low of $24.14 and a twelve month high of $35.85. The business has a 50-day moving average of $29.34 and a two-hundred day moving average of $29.04. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.28 and a beta of 0.65. 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 (NASDAQ:IRDM - Get Free Report) last posted its earnings results 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. The firm had revenue of $212.99 million for the quarter, compared to analyst estimates of $203.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. On average, equities analysts predict that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Monday, December 16th. Iridium Communications's dividend payout ratio (DPR) is currently 58.95%.

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.