Iridium Communications Inc $IRDM Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Iridium Communications Inc (NASDAQ:IRDM) by 128.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 385,311 shares of the technology company’s stock after purchasing an additional 216,517 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.37% of Iridium Communications worth $6,728,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP grew its stake in Iridium Communications by 3.1% in the 2nd quarter. Quantinno Capital Management LP now owns 15,199 shares of the technology company’s stock worth $459,000 after acquiring an additional 461 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Iridium Communications by 0.7% during the second quarter. Intech Investment Management LLC now owns 66,921 shares of the technology company’s stock worth $2,019,000 after purchasing an additional 473 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Iridium Communications by 36.2% in the third quarter. Jones Financial Companies Lllp now owns 3,053 shares of the technology company’s stock valued at $54,000 after purchasing an additional 812 shares during the period. AdvisorShares Investments LLC grew its position in shares of Iridium Communications by 5.9% in the second quarter. AdvisorShares Investments LLC now owns 15,460 shares of the technology company’s stock valued at $466,000 after purchasing an additional 860 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in Iridium Communications by 184.7% in the third quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock valued at $26,000 after purchasing an additional 977 shares during the last quarter. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IRDM. BWS Financial reissued a “sell” rating and set a $16.00 target price on shares of Iridium Communications in a research report on Friday, October 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of Iridium Communications in a research report on Thursday, January 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $24.00 target price (down previously from $37.00) on shares of Iridium Communications in a research note on Friday, January 16th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

Iridium Communications Price Performance

Shares of IRDM stock opened at $19.13 on Friday. The firm has a fifty day simple moving average of $18.53 and a 200-day simple moving average of $19.92. The company has a market capitalization of $2.00 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.61. Iridium Communications Inc has a twelve month low of $15.65 and a twelve month high of $34.45. The company has a current ratio of 2.67, a quick ratio of 1.93 and a debt-to-equity ratio of 4.02.

Iridium Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.60 annualized dividend and a dividend yield of 3.1%. Iridium Communications’s payout ratio is presently 53.10%.

About Iridium Communications

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.