Leonteq Securities AG Invests $334,000 in Iridium Communications Inc $IRDM

Leonteq Securities AG acquired a new position in Iridium Communications Inc (NASDAQ:IRDM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,197 shares of the technology company’s stock, valued at approximately $334,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. lifted its stake in shares of 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 buying an additional 977 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Iridium Communications by 392.8% in the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock worth $26,000 after buying an additional 1,202 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Iridium Communications in the third quarter worth $32,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Iridium Communications in the third quarter worth $46,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Iridium Communications in the third quarter worth $48,000. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications Trading Up 6.9%

Shares of Iridium Communications stock opened at $48.84 on Friday. The firm has a market capitalization of $5.16 billion, a PE ratio of 49.33, a price-to-earnings-growth ratio of 3.33 and a beta of 0.79. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.85 and a quick ratio of 2.21. The company’s fifty day moving average price is $35.73 and its two-hundred day moving average price is $25.06. Iridium Communications Inc has a 52-week low of $15.65 and a 52-week high of $48.94.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, April 23rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.07). The business had revenue of $219.06 million during the quarter, compared to the consensus estimate of $218.39 million. Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. On average, analysts expect that Iridium Communications Inc will post 1.04 EPS for the current year.

Iridium Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 15th. Iridium Communications’s payout ratio is 60.61%.

Insider Buying and Selling at Iridium Communications

In other news, CAO Timothy Kapalka sold 2,043 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $33.00, for a total value of $67,419.00. Following the sale, the chief accounting officer owned 45,721 shares of the company’s stock, valued at approximately $1,508,793. This represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IRDM shares. New Street Research initiated coverage on shares of Iridium Communications in a research note on Thursday, May 14th. They issued a “neutral” rating and a $40.00 price objective for the company. Raymond James Financial reiterated a “market perform” rating on shares of Iridium Communications in a research note on Friday, April 24th. Morgan Stanley upped their target price on shares of Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 18th. Weiss Ratings upgraded shares of Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 10th. Finally, Barclays upped their target price on shares of Iridium Communications from $25.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.80.

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.