Universal Beteiligungs und Servicegesellschaft mbH Has $381,000 Stock Holdings in Iridium Communications Inc $IRDM

Universal Beteiligungs und Servicegesellschaft mbH trimmed its position in shares of Iridium Communications Inc (NASDAQ:IRDM) by 26.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,625 shares of the technology company’s stock after selling 4,500 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Iridium Communications were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC acquired a new stake in Iridium Communications in the 1st quarter valued at about $30,000. Summit Securities Group LLC acquired a new stake in shares of Iridium Communications during the 1st quarter worth approximately $72,000. Carolina Wealth Advisors LLC bought a new stake in shares of Iridium Communications during the second quarter worth approximately $76,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Iridium Communications in the second quarter valued at approximately $156,000. Finally, Bayforest Capital Ltd boosted its stake in Iridium Communications by 527.7% in the first quarter. Bayforest Capital Ltd now owns 6,202 shares of the technology company’s stock valued at $169,000 after acquiring an additional 5,214 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications Trading Up 0.4%

NASDAQ IRDM opened at $16.50 on Friday. Iridium Communications Inc has a one year low of $15.65 and a one year high of $34.45. The company has a debt-to-equity ratio of 4.02, a current ratio of 2.67 and a quick ratio of 1.93. The firm has a market cap of $1.73 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.09 and a beta of 0.72. The stock’s 50-day moving average is $17.72 and its 200-day moving average is $23.30.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, October 23rd. The technology company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.09. The business had revenue of $226.94 million during the quarter, compared to analysts’ expectations of $222.13 million. Iridium Communications had a return on equity of 24.93% and a net margin of 14.44%.Iridium Communications’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. Sell-side analysts anticipate that Iridium Communications Inc will post 0.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. BWS Financial reiterated a “sell” rating and set a $16.00 target price on shares of Iridium Communications in a research report on Friday, October 24th. Morgan Stanley decreased their price objective on Iridium Communications from $40.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, August 1st. Raymond James Financial lowered Iridium Communications from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $39.00 to $26.00 in a research note on Thursday, September 11th. Barclays decreased their target price on Iridium Communications from $31.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Finally, Weiss Ratings lowered shares of Iridium Communications from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Six investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Insider Buying and Selling

In other news, CEO Matthew J. Desch bought 20,000 shares of the stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $17.33 per share, for a total transaction of $346,600.00. Following the acquisition, the chief executive officer owned 1,127,019 shares in the company, valued at approximately $19,531,239.27. This trade represents a 1.81% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas Fitzpatrick sold 20,839 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $18.00, for a total value of $375,102.00. Following the completion of the sale, the director owned 231,034 shares in the company, valued at approximately $4,158,612. This trade represents a 8.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,967 shares of company stock worth $557,406 over the last ninety days. Company insiders own 2.40% of the company’s stock.

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.