Gotham Asset Management LLC Boosts Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Gotham Asset Management LLC lifted its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 703,393 shares of the technology company’s stock after buying an additional 65,349 shares during the quarter. Gotham Asset Management LLC owned about 0.62% of Iridium Communications worth $20,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Plato Investment Management Ltd purchased a new stake in shares of Iridium Communications during the fourth quarter worth $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Iridium Communications during the 4th quarter valued at $37,000. Pinnacle Holdings LLC lifted its holdings in Iridium Communications by 45.4% during the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company’s stock worth $44,000 after purchasing an additional 477 shares in the last quarter. Fifth Third Bancorp grew its holdings in Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after buying an additional 357 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Iridium Communications by 529.6% during the fourth quarter. Covestor Ltd now owns 2,512 shares of the technology company’s stock valued at $73,000 after buying an additional 2,113 shares during the period. 84.36% of the stock is owned by institutional investors.

Iridium Communications Stock Up 1.7 %

Shares of NASDAQ:IRDM opened at $26.45 on Friday. The firm has a market capitalization of $2.86 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73. Iridium Communications Inc. has a 52-week low of $19.91 and a 52-week high of $35.85. The firm has a fifty day moving average of $25.94 and a 200 day moving average of $28.33.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $214.88 million for the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same period in the prior year, the company earned $0.17 EPS. As a group, research analysts anticipate that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.12%. Iridium Communications’s payout ratio is 52.83%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. William Blair raised shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 22nd. Cantor Fitzgerald began coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 price target for the company. StockNews.com downgraded Iridium Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 1st. Oppenheimer began coverage on Iridium Communications in a research report on Monday, May 5th. They set an “outperform” rating and a $34.00 target price for the company. Finally, Barclays lowered their price target on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Iridium Communications has an average rating of “Moderate Buy” and a consensus target price of $34.25.

Iridium Communications 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.