Iridium Communications Inc. (NASDAQ:IRDM) Stake Lessened by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,130 shares of the technology company’s stock after selling 7,670 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Iridium Communications were worth $870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of Iridium Communications by 1.1% in the 1st quarter. Rhumbline Advisers now owns 359,276 shares of the technology company’s stock valued at $14,486,000 after purchasing an additional 3,957 shares during the period. BlackRock Inc. grew its position in Iridium Communications by 0.5% during the first quarter. BlackRock Inc. now owns 15,739,982 shares of the technology company’s stock valued at $634,635,000 after purchasing an additional 71,031 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Iridium Communications by 7.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 70,873 shares of the technology company’s stock valued at $2,934,000 after buying an additional 4,877 shares during the period. Yousif Capital Management LLC lifted its position in Iridium Communications by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 69,722 shares of the technology company’s stock worth $2,811,000 after buying an additional 2,353 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Iridium Communications by 16.6% during the 1st quarter. Raymond James Trust N.A. now owns 9,943 shares of the technology company’s stock valued at $401,000 after buying an additional 1,417 shares during the period. 84.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have 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 note on Friday, February 16th. BWS Financial downgraded Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research note on Friday, February 16th. TheStreet raised Iridium Communications from a “d+” rating to a “c-” rating in a research note on Thursday, February 15th. Barclays cut their price objective 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. Finally, William Blair downgraded shares of Iridium Communications from an “outperform” rating to a “market perform” 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

Iridium Communications Stock Down 0.1 %

Shares of Iridium Communications stock opened at $24.65 on Tuesday. Iridium Communications Inc. has a 12-month low of $24.17 and a 12-month high of $68.34. The company has a quick ratio of 1.37, a current ratio of 2.06 and a debt-to-equity ratio of 1.65. The stock has a 50 day moving average price of $28.35 and a two-hundred day moving average price of $35.33. The stock has a market capitalization of $3.02 billion, a P/E ratio of 189.62 and a beta of 0.85.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data 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. The business had revenue of $194.74 million during the quarter, compared to the consensus estimate of $192.13 million. Iridium Communications had a net margin of 1.95% and a return on equity of 1.58%. Iridium Communications’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. Equities analysts expect 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 was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.13 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.11%. Iridium Communications’s payout ratio is presently 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.