Iridium Communications Inc. (NASDAQ:IRDM) Shares Bought by Duality Advisers LP

Duality Advisers LP grew its stake in Iridium Communications Inc. (NASDAQ:IRDM) by 128.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,417 shares of the technology company’s stock after acquiring an additional 16,004 shares during the quarter. Duality Advisers LP’s holdings in Iridium Communications were worth $1,170,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of IRDM. Cullen Investment Group LTD. acquired a new stake in Iridium Communications during the fourth quarter worth $1,548,000. Hsbc Holdings PLC raised its holdings in Iridium Communications by 11.9% in the 3rd quarter. Hsbc Holdings PLC now owns 54,578 shares of the technology company’s stock valued at $2,498,000 after buying an additional 5,823 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Iridium Communications by 92.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 43,137 shares of the technology company’s stock valued at $1,962,000 after buying an additional 20,752 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Iridium Communications by 2,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 603,900 shares of the technology company’s stock worth $24,857,000 after buying an additional 583,896 shares during the period. Finally, GSA Capital Partners LLP increased its position in shares of Iridium Communications by 1,167.9% during the third quarter. GSA Capital Partners LLP now owns 51,310 shares of the technology company’s stock valued at $2,334,000 after acquiring an additional 47,263 shares during the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on IRDM. TheStreet upgraded shares of Iridium Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 15th. BWS Financial reiterated a “neutral” rating and issued a $30.00 price objective on shares of Iridium Communications in a report on Monday. Barclays lowered their target price on Iridium Communications from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Friday, February 23rd. William Blair lowered shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 15th. Finally, Raymond James cut their target price on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

Iridium Communications Stock Up 2.2 %

IRDM stock opened at $28.74 on Wednesday. The company’s 50 day moving average price is $27.51 and its 200 day moving average price is $34.68. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 136.86 and a beta of 0.85. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $68.34. The company has a debt-to-equity ratio of 1.86, a quick ratio of 2.52 and a current ratio of 3.33.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $203.80 million for the quarter, compared to the consensus estimate of $193.84 million. Iridium Communications had a net margin of 3.20% and a return on equity of 2.76%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. On average, equities research analysts anticipate that Iridium Communications Inc. will post 0.74 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Thursday, March 14th. Iridium Communications’s dividend payout ratio is presently 247.62%.

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.