Jaffetilchin Investment Partners LLC Invests $635,000 in Iridium Communications Inc $IRDM

Jaffetilchin Investment Partners LLC acquired a new position in shares of Iridium Communications Inc (NASDAQ:IRDM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,528 shares of the technology company’s stock, valued at approximately $635,000.

A number of other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its stake in Iridium Communications by 184.7% in the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock valued at $26,000 after purchasing an additional 977 shares in the last quarter. Larson Financial Group LLC increased its position in Iridium Communications by 392.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after purchasing an additional 1,202 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Iridium Communications during the 3rd quarter worth about $32,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Iridium Communications during the 3rd quarter worth about $46,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Iridium Communications during the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 84.36% of the company’s stock.

Iridium Communications Price Performance

Shares of NASDAQ:IRDM opened at $27.74 on Wednesday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.81 and a beta of 0.60. The business has a 50-day moving average of $23.40 and a two-hundred day moving average of $19.81. Iridium Communications Inc has a fifty-two week low of $15.65 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.48 and a quick ratio of 1.82.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Iridium Communications had a return on equity of 24.01% and a net margin of 13.12%.The business had revenue of $212.94 million for the quarter, compared to analyst estimates of $219.14 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts predict that Iridium Communications Inc will post 0.89 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, March 16th. Iridium Communications’s dividend payout ratio (DPR) is 56.60%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley boosted their price target on Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Weiss Ratings raised shares of Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 10th. Finally, BWS Financial reissued a “sell” rating and issued a $16.00 target price on shares of Iridium Communications in a research report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.40.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.