WINTON GROUP Ltd Increases Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

WINTON GROUP Ltd lifted its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,291 shares of the technology company's stock after buying an additional 10,775 shares during the quarter. WINTON GROUP Ltd owned approximately 0.14% of Iridium Communications worth $4,652,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pathstone Holdings LLC raised its position in Iridium Communications by 14.3% during the third quarter. Pathstone Holdings LLC now owns 61,825 shares of the technology company's stock worth $1,883,000 after acquiring an additional 7,722 shares during the period. Cerity Partners LLC purchased a new stake in shares of Iridium Communications during the third quarter worth about $1,359,000. FMR LLC lifted its stake in Iridium Communications by 26.7% in the 3rd quarter. FMR LLC now owns 942,380 shares of the technology company's stock valued at $28,695,000 after buying an additional 198,360 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Iridium Communications by 2.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 382,390 shares of the technology company's stock valued at $11,644,000 after buying an additional 9,511 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in Iridium Communications during the 3rd quarter worth approximately $539,000. Hedge funds and other institutional investors own 84.36% of the company's stock.

Iridium Communications Trading Down 0.4 %

Shares of NASDAQ IRDM traded down $0.11 during trading on Monday, hitting $27.44. 227,861 shares of the company were exchanged, compared to its average volume of 1,112,578. The company has a fifty day moving average price of $29.52 and a 200-day moving average price of $29.47. 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 firm has a market capitalization of $2.99 billion, a PE ratio of 28.88, a P/E/G ratio of 1.28 and a beta of 0.70. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $35.85.

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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 for the quarter, beating the consensus estimate of $0.15 by $0.16. The company had revenue of $212.99 million for the quarter, compared to analyst estimates of $203.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. As a group, equities research analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, March 17th. Iridium Communications's dividend payout ratio (DPR) is presently 58.95%.

Insider Transactions at Iridium Communications

In related news, Director Thomas Fitzpatrick sold 12,500 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were 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 owns 241,030 shares of the company's stock, valued at approximately $6,876,585.90. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

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

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.