Stock Traders Buy High Volume of Iridium Communications Put Options (IRDM)
Iridium Communications Inc (NASDAQ:IRDM) saw some unusual options trading activity on Monday. Traders purchased 4,962 put options on the company. This represents an increase of 1,588% compared to the typical volume of 294 put options.
Institutional investors have recently modified their holdings of the stock. Flinton Capital Management LLC raised its position in shares of Iridium Communications by 80.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock worth $101,000 after purchasing an additional 4,060 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Iridium Communications by 15.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $109,000 after acquiring an additional 1,303 shares during the period. QS Investors LLC grew its stake in Iridium Communications by 23,091.5% in the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock worth $120,000 after acquiring an additional 10,853 shares during the period. Amalgamated Bank grew its stake in Iridium Communications by 2.5% in the 2nd quarter. Amalgamated Bank now owns 11,437 shares of the technology company’s stock worth $126,000 after acquiring an additional 284 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in Iridium Communications by 22.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 15,997 shares of the technology company’s stock worth $177,000 after acquiring an additional 2,900 shares during the period.
Iridium Communications (IRDM) opened at $12.05 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.67 and a current ratio of 2.78. Iridium Communications has a 12-month low of $7.80 and a 12-month high of $13.00. The stock has a market capitalization of $1,165.85, a P/E ratio of 13.10, a P/E/G ratio of 4.02 and a beta of 1.77.
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Iridium Communications Company Profile
Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.
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