Swiss Life Asset Management Ltd Makes New Investment in Iridium Communications Inc $IRDM

Swiss Life Asset Management Ltd bought a new position in shares of Iridium Communications Inc (NASDAQ:IRDM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,461 shares of the technology company’s stock, valued at approximately $234,000.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its holdings in Iridium Communications by 184.7% during the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock worth $26,000 after buying an additional 977 shares during the period. Larson Financial Group LLC lifted its holdings in Iridium Communications by 392.8% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after buying an additional 1,202 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Iridium Communications during the third quarter worth $32,000. Aster Capital Management DIFC Ltd purchased a new stake in Iridium Communications during the third quarter worth $46,000. Finally, Advisory Services Network LLC purchased a new stake in Iridium Communications during the third quarter worth $48,000. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Insider Buying and Selling at Iridium Communications

In other Iridium Communications news, CAO Timothy Kapalka sold 2,043 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $33.00, for a total value of $67,419.00. Following the sale, the chief accounting officer directly owned 45,721 shares of the company’s stock, valued at approximately $1,508,793. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.70% of the stock is owned by company insiders.

Iridium Communications Price Performance

Shares of IRDM opened at $43.57 on Wednesday. The firm has a market capitalization of $4.61 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 2.96 and a beta of 0.79. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.85 and a quick ratio of 2.21. Iridium Communications Inc has a 1-year low of $15.65 and a 1-year high of $44.92. The company’s fifty day moving average price is $34.41 and its 200-day moving average price is $24.51.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, April 23rd. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.07). The company had revenue of $219.06 million for the quarter, compared to analysts’ expectations of $218.39 million. Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. Iridium Communications’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share. On average, equities research analysts predict that Iridium Communications Inc will post 1.04 EPS for the current year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.4%. Iridium Communications’s payout ratio is 60.61%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BWS Financial restated a “sell” rating and set a $16.00 target price on shares of Iridium Communications in a report on Monday, April 27th. Raymond James Financial restated a “market perform” rating on shares of Iridium Communications in a report on Friday, April 24th. Weiss Ratings upgraded Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 10th. Morgan Stanley upped their target price on Iridium Communications from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 18th. Finally, New Street Research initiated coverage on Iridium Communications in a research report on Thursday, May 14th. They set a “neutral” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.80.

Iridium Communications 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.