Iridium Communications Inc (NASDAQ:IRDM) was the target of some unusual options trading activity on Monday. Stock traders bought 4,962 put options on the stock. This is an increase of 1,588% compared to the average daily volume of 294 put options.
Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Iridium Communications by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 10,250,671 shares of the technology company’s stock valued at $113,271,000 after buying an additional 250,505 shares during the period. Northern Trust Corp increased its stake in Iridium Communications by 64.1% in the 2nd quarter. Northern Trust Corp now owns 2,055,329 shares of the technology company’s stock valued at $22,711,000 after buying an additional 803,190 shares during the period. State Street Corp increased its stake in Iridium Communications by 2.1% in the 2nd quarter. State Street Corp now owns 2,028,349 shares of the technology company’s stock valued at $22,409,000 after buying an additional 41,109 shares during the period. Prudential Financial Inc. increased its stake in Iridium Communications by 0.7% in the 3rd quarter. Prudential Financial Inc. now owns 1,299,599 shares of the technology company’s stock valued at $13,386,000 after buying an additional 8,933 shares during the period. Finally, Elk Creek Partners LLC increased its stake in Iridium Communications by 7.2% in the 3rd quarter. Elk Creek Partners LLC now owns 1,056,308 shares of the technology company’s stock valued at $10,880,000 after buying an additional 70,990 shares during the period.
Shares of Iridium Communications (NASDAQ IRDM) opened at $12.05 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67. The company has a market cap 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. Iridium Communications has a 12-month low of $7.80 and a 12-month high of $13.00.
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About Iridium Communications
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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