Skylands Capital LLC Has $3.79 Million Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Skylands Capital LLC lifted its position in Iridium Communications Inc. (NASDAQ:IRDM) by 72.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,150 shares of the technology company’s stock after buying an additional 38,650 shares during the quarter. Skylands Capital LLC’s holdings in Iridium Communications were worth $3,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Arizona State Retirement System raised its holdings in Iridium Communications by 0.9% in the 3rd quarter. Arizona State Retirement System now owns 32,269 shares of the technology company’s stock worth $1,468,000 after acquiring an additional 272 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of Iridium Communications by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 54,770 shares of the technology company’s stock worth $2,491,000 after purchasing an additional 280 shares during the last quarter. Covestor Ltd boosted its stake in Iridium Communications by 83.2% during the 3rd quarter. Covestor Ltd now owns 1,006 shares of the technology company’s stock valued at $46,000 after purchasing an additional 457 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Iridium Communications by 7.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 6,456 shares of the technology company’s stock valued at $294,000 after buying an additional 459 shares during the last quarter. Finally, ORG Partners LLC increased its position in Iridium Communications by 20.6% in the 4th quarter. ORG Partners LLC now owns 3,216 shares of the technology company’s stock worth $132,000 after buying an additional 550 shares during the period. 84.36% of the stock is owned by institutional investors.

Iridium Communications Stock Performance

IRDM traded up $0.37 during trading on Monday, reaching $31.74. 790,177 shares of the company’s stock were exchanged, compared to its average volume of 1,155,560. The company has a market capitalization of $3.85 billion, a P/E ratio of 149.38 and a beta of 0.85. The company has a quick ratio of 2.52, a current ratio of 3.33 and a debt-to-equity ratio of 1.86. The business has a 50 day moving average price of $27.30 and a 200 day moving average price of $34.28. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $65.69.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, April 18th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $203.80 million during 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 firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $0.08 EPS. As a group, analysts predict that Iridium Communications Inc. will post 0.73 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, March 14th. Iridium Communications’s payout ratio is 247.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IRDM shares. Raymond James cut their price target on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating for the company in a report on Friday, February 16th. William Blair downgraded shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. Barclays raised their price target on shares of Iridium Communications from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday. TheStreet raised shares of Iridium Communications from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. Finally, BWS Financial reissued a “neutral” rating and set a $30.00 target price on shares of Iridium Communications in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

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.