Iridium Communications Inc $IRDM Shares Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Iridium Communications Inc (NASDAQ:IRDM) by 128.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 385,311 shares of the technology company’s stock after acquiring an additional 216,517 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Iridium Communications were worth $6,728,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its holdings 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 worth $26,000 after purchasing an additional 977 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Iridium Communications during the 2nd quarter worth about $70,000. Jones Financial Companies Lllp lifted its stake in shares of Iridium Communications by 36.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,053 shares of the technology company’s stock worth $54,000 after acquiring an additional 812 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Iridium Communications by 147.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 3,485 shares of the technology company’s stock worth $61,000 after acquiring an additional 2,074 shares during the period. Finally, Connable Office Inc. bought a new position in shares of Iridium Communications in the second quarter valued at approximately $201,000. 84.36% of the stock is owned by institutional investors.

Iridium Communications Price Performance

NASDAQ IRDM opened at $19.13 on Friday. Iridium Communications Inc has a 1 year low of $15.65 and a 1 year high of $34.45. The business’s fifty day moving average is $18.53 and its two-hundred day moving average is $19.92. The stock has a market capitalization of $2.00 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.18 and a beta of 0.61. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.93 and a current ratio of 2.67.

Iridium Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, December 15th. Iridium Communications’s dividend payout ratio is currently 53.10%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IRDM shares. BWS Financial restated a “sell” rating and issued a $16.00 target price on shares of Iridium Communications in a research report on Friday, October 24th. Morgan Stanley reissued an “equal weight” rating and issued a $24.00 price objective (down previously from $37.00) on shares of Iridium Communications in a research note on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Iridium Communications in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $25.00.

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.