1 day Ago By ABMN Staff
Federated Hermes Inc. reduced its holdings in Iridium Communications Inc. ( NASDAQ:IRDM – Free Report ) by 7.
4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,379 shares of the technology company’s stock after selling 984 shares during the quarter. Federated Hermes Inc.
’s holdings in Iridium Communications were worth $359,000 at the end of the most recent quarter. Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co.
increased its holdings in shares of Iridium Communications by 1.6% in the fourth quarter. JPMorgan Chase & Co.
now owns 631,852 shares of the technology company’s stock valued at $18,336,000 after buying an additional 10,195 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Iridium Communications by 30.2% during the fourth quarter.
Nordea Investment Management AB now owns 248,602 shares of the technology company’s stock valued at $7,264,000 after purchasing an additional 57,690 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Iridium Communications by 369.5% in the 4th quarter.
Teacher Retirement System of Texas now owns 69,562 shares of the technology company’s stock valued at $2,019,000 after purchasing an additional 54,747 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Iridium Communications by 376.3% in the 4th quarter.
Steward Partners Investment Advisory LLC now owns 4,858 shares of the technology company’s stock worth $141,000 after purchasing an additional 3,838 shares in the last quarter. Finally, SBI Securities Co. Ltd.
acquired a new stake in Iridium Communications during the 4th quarter worth about $37,000. 84.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In IRDM has been the topic of several analyst reports. StockNews.com raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research report on Sunday, April 6th.
Cantor Fitzgerald started coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 price objective on the stock.
Finally, Barclays reduced their target price on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, March 10th.
Iridium Communications Price Performance IRDM opened at $23.77 on Friday. The stock has a fifty day moving average price of $28.
14 and a 200 day moving average price of $29.00. 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 Inc. has a 1 year low of $22.18 and a 1 year high of $35.
85. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 25.
02, a PEG ratio of 1.28 and a beta of 0.66.
Iridium Communications ( NASDAQ:IRDM – Get Free Report ) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.
15 by $0.16. Iridium Communications had a net margin of 13.
58% and a return on equity of 15.66%. The company had revenue of $212.
99 million for the quarter, compared to analyst estimates of $203.78 million. Analysts forecast that Iridium Communications Inc.
will post 0.89 EPS for the current fiscal year. Iridium Communications Announces Dividend The business also recently announced a quarterly dividend, which was paid on Monday, March 31st.
Shareholders of record on Monday, March 17th were paid a $0.14 dividend. This represents a $0.
56 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, March 17th.
Iridium Communications’s dividend payout ratio is presently 58.95%. Iridium Communications Company Profile ( Free Report ) 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. See Also Want to see what other hedge funds are holding IRDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iridium Communications Inc.
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