SBI Securities Co. Ltd. Invests $37,000 in Iridium Communications Inc. (NASDAQ:IRDM)

SBI Securities Co. Ltd. bought a new position in shares of Iridium Communications Inc. (NASDAQ:IRDM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,281 shares of the technology company’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fifth Third Bancorp lifted its position in shares of Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after purchasing an additional 357 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Iridium Communications by 6.8% in the fourth quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company’s stock valued at $340,000 after acquiring an additional 750 shares in the last quarter. KBC Group NV raised its holdings in shares of Iridium Communications by 25.9% in the third quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock valued at $116,000 after acquiring an additional 781 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Iridium Communications by 1.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 76,836 shares of the technology company’s stock valued at $2,230,000 after acquiring an additional 866 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Iridium Communications by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company’s stock valued at $101,000 after acquiring an additional 1,074 shares in the last quarter. 84.36% of the stock is currently owned by institutional investors.

Insider Transactions at Iridium Communications

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $28.53, for a total transaction of $356,625.00. Following the sale, the director now owns 241,030 shares in the company, valued at approximately $6,876,585.90. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRDM. Cantor Fitzgerald began coverage on Iridium Communications in a report on Friday, January 24th. They issued an “overweight” rating and a $40.00 price objective for the company. Barclays decreased their price objective on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a report on Monday. Finally, StockNews.com upgraded Iridium Communications from a “hold” rating to a “buy” rating in a report on Thursday, February 27th.

Iridium Communications Price Performance

IRDM opened at $29.33 on Wednesday. The business’s 50-day moving average is $29.71 and its two-hundred day moving average is $29.34. Iridium Communications Inc. has a 1 year low of $24.14 and a 1 year high of $35.85. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market capitalization of $3.19 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.28 and a beta of 0.70.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.16. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The company had revenue of $212.99 million for the quarter, compared to analyst estimates of $203.78 million. Research analysts anticipate that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.91%. Iridium Communications’s payout ratio is 58.95%.

About Iridium Communications

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.