Brown Advisory Inc. increased its stake in shares of Iridium Communications Inc (NASDAQ:IRDM) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 404,713 shares of the technology company’s stock after acquiring an additional 9,720 shares during the quarter. Brown Advisory Inc. owned about 0.41% of Iridium Communications worth $4,168,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Flinton Capital Management LLC boosted its position in shares of Iridium Communications by 80.6% during the second quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock worth $101,000 after acquiring an additional 4,060 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of Iridium Communications during the second quarter worth $102,000. PNC Financial Services Group Inc. boosted its position in shares of Iridium Communications by 15.3% during the second quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $109,000 after acquiring an additional 1,303 shares during the last quarter. Everence Capital Management Inc. bought a new position in shares of Iridium Communications during the second quarter worth $116,000. Finally, QS Investors LLC boosted its position in shares of Iridium Communications by 23,091.5% during the second quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock worth $120,000 after acquiring an additional 10,853 shares during the last quarter.

IRDM has been the subject of a number of research reports. TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a research report on Friday, October 27th. Wells Fargo & Company upped their target price on shares of Iridium Communications from $9.75 to $12.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Zacks Investment Research lowered shares of Iridium Communications from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $14.00 price target on shares of Iridium Communications in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Iridium Communications presently has an average rating of “Buy” and a consensus price target of $12.33.

Shares of Iridium Communications Inc (NASDAQ IRDM) opened at $12.30 on Wednesday. The stock has a market cap of $1,220.00, a price-to-earnings ratio of 13.64, a P/E/G ratio of 3.01 and a beta of 1.74. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.67 and a current ratio of 2.78. Iridium Communications Inc has a 12 month low of $7.80 and a 12 month high of $12.90.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $116.55 million for the quarter, compared to the consensus estimate of $113.96 million. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. Iridium Communications’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. equities analysts forecast that Iridium Communications Inc will post 0.83 EPS for the current year.

In other Iridium Communications news, Director A B. Krongard purchased 45,750 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average price of $10.89 per share, with a total value of $498,217.50. Following the completion of the purchase, the director now directly owns 149,788 shares in the company, valued at $1,631,191.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.40% of the stock is owned by corporate insiders.

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Iridium Communications Company Profile

Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.

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Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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