Brown Advisory Inc. increased its stake in Iridium Communications Inc (NASDAQ:IRDM) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,718 shares of the technology company’s stock after purchasing an additional 4,005 shares during the period. Brown Advisory Inc. owned approximately 0.25% of Iridium Communications worth $4,407,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in shares of Iridium Communications by 15.9% in the second quarter. Victory Capital Management Inc. now owns 22,399 shares of the technology company’s stock worth $361,000 after purchasing an additional 3,074 shares during the last quarter. Aperio Group LLC increased its position in shares of Iridium Communications by 9.4% in the second quarter. Aperio Group LLC now owns 60,240 shares of the technology company’s stock worth $970,000 after purchasing an additional 5,183 shares during the last quarter. Princeton Portfolio Strategies Group LLC increased its position in shares of Iridium Communications by 28.3% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 25,260 shares of the technology company’s stock worth $284,000 after purchasing an additional 5,570 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Iridium Communications by 5.0% in the second quarter. SG Americas Securities LLC now owns 119,488 shares of the technology company’s stock worth $1,924,000 after purchasing an additional 5,722 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Iridium Communications by 10.6% in the second quarter. Alps Advisors Inc. now owns 61,285 shares of the technology company’s stock worth $987,000 after purchasing an additional 5,887 shares during the last quarter. Institutional investors own 86.24% of the company’s stock.

Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. Sidoti reiterated a “neutral” rating on shares of Iridium Communications in a research report on Monday, August 27th. Zacks Investment Research cut shares of Iridium Communications from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 4th. Northland Securities reiterated a “hold” rating and set a $14.75 price target on shares of Iridium Communications in a research report on Wednesday, August 1st. Finally, ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. Iridium Communications has a consensus rating of “Buy” and an average price target of $17.44.

In other news, COO S. Scott Smith sold 27,761 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $20.55, for a total transaction of $570,488.55. Following the completion of the sale, the chief operating officer now owns 246,362 shares of the company’s stock, valued at $5,062,739.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan J. Hartin sold 29,655 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $19.23, for a total value of $570,265.65. Following the sale, the executive vice president now directly owns 94,168 shares of the company’s stock, valued at approximately $1,810,850.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,371 shares of company stock valued at $1,635,766. Insiders own 5.60% of the company’s stock.

Shares of NASDAQ IRDM opened at $21.00 on Wednesday. Iridium Communications Inc has a one year low of $9.68 and a one year high of $21.25. The company has a current ratio of 2.18, a quick ratio of 2.09 and a debt-to-equity ratio of 1.20. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 30.00 and a beta of 1.84.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $134.93 million for the quarter, compared to analysts’ expectations of $120.54 million. Iridium Communications had a net margin of 36.66% and a return on equity of 3.72%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.20 earnings per share. sell-side analysts predict that Iridium Communications Inc will post -0.14 EPS for the current fiscal year.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.

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Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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