Impax Asset Management Group plc Has $987,000 Stock Position in Iridium Communications Inc. (NASDAQ:IRDM)

Impax Asset Management Group plc boosted its position in Iridium Communications Inc. (NASDAQ:IRDM) by 48.5% in the 4th quarter, HoldingsChannel reports. The firm owned 34,015 shares of the technology company’s stock after acquiring an additional 11,113 shares during the period. Impax Asset Management Group plc’s holdings in Iridium Communications were worth $987,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Raymond James & Associates lifted its position in Iridium Communications by 22.6% during the third quarter. Raymond James & Associates now owns 326,625 shares of the technology company’s stock worth $9,946,000 after acquiring an additional 60,211 shares during the last quarter. Private Advisor Group LLC lifted its position in Iridium Communications by 186.6% during the third quarter. Private Advisor Group LLC now owns 50,633 shares of the technology company’s stock worth $1,542,000 after acquiring an additional 32,967 shares during the last quarter. International Assets Investment Management LLC lifted its position in Iridium Communications by 2,945.0% during the third quarter. International Assets Investment Management LLC now owns 51,765 shares of the technology company’s stock worth $1,700,000 after acquiring an additional 50,065 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Iridium Communications by 77.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 22,857 shares of the technology company’s stock worth $696,000 after acquiring an additional 9,999 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Iridium Communications by 2.8% during the third quarter. State of Alaska Department of Revenue now owns 13,750 shares of the technology company’s stock worth $418,000 after acquiring an additional 375 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald assumed coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 price objective for the company.

Iridium Communications Stock Down 0.1 %

NASDAQ IRDM opened at $31.40 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 1-year low of $24.14 and a 1-year high of $35.85. The company has a 50 day moving average of $29.38 and a 200-day moving average of $29.07. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 1.28 and a beta of 0.65.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.16. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. The company had revenue of $212.99 million during the quarter, compared to the consensus estimate of $203.78 million. On average, equities research analysts expect that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.14 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.78%. Iridium Communications’s payout ratio is 58.95%.

Insider Activity

In related news, Director Thomas Fitzpatrick sold 12,500 shares of Iridium Communications stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $28.53, for a total value of $356,625.00. Following the transaction, the director now directly owns 241,030 shares of the company’s stock, valued at $6,876,585.90. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

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.