Lbp Am Sa Buys 48,975 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Lbp Am Sa increased its stake in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 67.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 122,075 shares of the technology company’s stock after buying an additional 48,975 shares during the period. Lbp Am Sa owned 0.11% of Iridium Communications worth $3,543,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Iridium Communications by 19.8% in the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after purchasing an additional 357 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Iridium Communications by 4.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the technology company’s stock valued at $553,000 after purchasing an additional 729 shares during the period. Ballentine Partners LLC boosted its holdings in Iridium Communications by 6.8% in the 4th quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company’s stock valued at $340,000 after purchasing an additional 750 shares during the period. KBC Group NV boosted its holdings in Iridium Communications by 25.9% in the 3rd quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock valued at $116,000 after purchasing an additional 781 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Iridium Communications by 1.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 76,836 shares of the technology company’s stock valued at $2,230,000 after purchasing an additional 866 shares during the period. Institutional investors own 84.36% of the company’s stock.

Insider Buying and Selling

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the business’s 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 sale, the director now directly owns 241,030 shares of the company’s stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Iridium Communications Price Performance

Shares of NASDAQ:IRDM opened at $27.59 on Friday. The firm has a 50 day moving average of $29.57 and a 200-day moving average of $29.34. The stock has a market capitalization of $3.00 billion, a PE ratio of 29.04, a PEG 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. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, February 13th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. The business had revenue of $212.99 million during the quarter, compared to analysts’ expectations of $203.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. On average, equities research analysts predict that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Monday, March 17th. Iridium Communications’s dividend payout ratio is 58.95%.

Analysts Set New Price Targets

Several brokerages have recently commented on IRDM. StockNews.com cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays dropped their target price on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Cantor Fitzgerald began coverage on shares of Iridium Communications in a research report on Friday, January 24th. They issued an “overweight” rating and a $40.00 target price 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.