Values First Advisors Inc. Has $532,000 Position in Iridium Communications Inc. (NASDAQ:IRDM)

Values First Advisors Inc. grew its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,921 shares of the technology company’s stock after acquiring an additional 1,358 shares during the period. Values First Advisors Inc.’s holdings in Iridium Communications were worth $532,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Iridium Communications during the 4th quarter worth about $59,062,000. Van Berkom & Associates Inc. boosted its position in shares of Iridium Communications by 57.5% during the 3rd quarter. Van Berkom & Associates Inc. now owns 2,059,088 shares of the technology company’s stock worth $93,668,000 after purchasing an additional 751,595 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Iridium Communications by 2,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 603,900 shares of the technology company’s stock worth $24,857,000 after purchasing an additional 583,896 shares in the last quarter. State Street Corp boosted its position in shares of Iridium Communications by 13.5% during the 1st quarter. State Street Corp now owns 4,733,034 shares of the technology company’s stock worth $190,836,000 after purchasing an additional 564,367 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of Iridium Communications by 258.9% during the 2nd quarter. ArrowMark Colorado Holdings LLC now owns 695,307 shares of the technology company’s stock worth $43,192,000 after purchasing an additional 501,581 shares in the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James dropped their price target on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 16th. William Blair cut shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 15th. Barclays dropped their price target on shares of Iridium Communications from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. BWS Financial cut shares of Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a research report on Friday, February 16th. Finally, TheStreet raised shares of Iridium Communications from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Iridium Communications has an average rating of “Moderate Buy” and an average price target of $49.80.

Iridium Communications Stock Down 0.5 %

NASDAQ:IRDM traded down $0.14 on Thursday, hitting $26.16. The stock had a trading volume of 734,355 shares, compared to its average volume of 1,080,975. The firm’s fifty day simple moving average is $31.21 and its two-hundred day simple moving average is $37.45. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.37 and a current ratio of 2.06. Iridium Communications Inc. has a 1 year low of $25.27 and a 1 year high of $68.34. The stock has a market cap of $3.20 billion, a P/E ratio of 201.54 and a beta of 0.87.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.27. Iridium Communications had a net margin of 1.95% and a return on equity of 1.58%. The company had revenue of $194.74 million during the quarter, compared to analyst estimates of $192.13 million. During the same quarter last year, the business posted ($0.01) EPS. Iridium Communications’s quarterly revenue was up .5% compared to the same quarter last year. Analysts predict that Iridium Communications Inc. will post 0.72 earnings per share for the current year.

Iridium Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a yield of 1.99%. Iridium Communications’s dividend payout ratio is 400.00%.

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.