Inspire Investing LLC Acquires 28,119 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Inspire Investing LLC grew its stake in Iridium Communications Inc. (NASDAQ:IRDM) by 185.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,265 shares of the technology company’s stock after buying an additional 28,119 shares during the quarter. Inspire Investing LLC’s holdings in Iridium Communications were worth $1,256,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IRDM. Capital Performance Advisors LLP purchased a new position in shares of Iridium Communications during the 3rd quarter valued at $57,000. GAMMA Investing LLC lifted its stake in Iridium Communications by 25.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,399 shares of the technology company’s stock worth $73,000 after purchasing an additional 483 shares in the last quarter. KBC Group NV boosted its holdings in shares of Iridium Communications by 25.9% during the 3rd quarter. KBC Group NV now owns 3,796 shares of the technology company’s stock valued at $116,000 after purchasing an additional 781 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Iridium Communications in the fourth quarter worth about $186,000. Finally, Quarry LP increased its holdings in shares of Iridium Communications by 12.4% in the second quarter. Quarry LP now owns 7,533 shares of the technology company’s stock worth $201,000 after purchasing an additional 832 shares during the last quarter. Institutional investors own 84.36% of the company’s stock.

Insider Buying and Selling at Iridium Communications

In other news, insider Suzanne E. Mcbride sold 4,420 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $29.48, for a total value of $130,301.60. Following the completion of the sale, the insider now owns 182,797 shares of the company’s stock, valued at $5,388,855.56. This represents a 2.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas Fitzpatrick sold 12,500 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $28.53, for a total transaction of $356,625.00. Following the completion of the transaction, the director now directly owns 241,030 shares in the company, valued at $6,876,585.90. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,977 shares of company stock valued at $488,593. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial restated a “neutral” rating and set a $30.00 price objective on shares of Iridium Communications in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Iridium Communications Price Performance

Shares of NASDAQ IRDM opened at $29.41 on Friday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 2.01 and a current ratio of 2.62. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $38.08. The company has a market cap of $3.35 billion, a PE ratio of 31.29 and a beta of 0.65. The business has a 50-day simple moving average of $29.26 and a two-hundred day simple moving average of $28.57.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications’s dividend payout ratio (DPR) is 59.58%.

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.