EntryPoint Capital LLC Acquires 600 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

EntryPoint Capital LLC boosted its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,330 shares of the technology company’s stock after buying an additional 600 shares during the quarter. EntryPoint Capital LLC’s holdings in Iridium Communications were worth $445,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Congress Wealth Management LLC DE purchased a new position in shares of Iridium Communications in the 4th quarter valued at $438,000. Fox Run Management L.L.C. raised its holdings in Iridium Communications by 184.1% in the fourth quarter. Fox Run Management L.L.C. now owns 39,433 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 25,555 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Iridium Communications during the fourth quarter valued at about $609,000. AXQ Capital LP boosted its holdings in shares of Iridium Communications by 110.5% in the 4th quarter. AXQ Capital LP now owns 39,565 shares of the technology company’s stock valued at $1,148,000 after buying an additional 20,772 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Iridium Communications by 11.1% in the 4th quarter. Sei Investments Co. now owns 153,672 shares of the technology company’s stock worth $4,460,000 after buying an additional 15,388 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, 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 transaction of $356,625.00. Following the completion of the transaction, the director now directly owns 241,030 shares of the company’s stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Iridium Communications Trading Up 2.9 %

NASDAQ:IRDM opened at $29.00 on Wednesday. The company has a market capitalization of $3.16 billion, a P/E ratio of 30.53, a PEG ratio of 1.28 and a beta of 0.70. 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 12 month low of $24.14 and a 12 month high of $35.85. The firm has a fifty day simple moving average of $29.45 and a 200-day simple moving average of $29.42.

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

Iridium Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.56 annualized dividend and a yield of 1.93%. Iridium Communications’s dividend payout ratio (DPR) is presently 58.95%.

Analysts Set New Price Targets

A number of research firms recently commented on IRDM. StockNews.com raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Cantor Fitzgerald initiated coverage on Iridium Communications in a research report on Friday, January 24th. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, Barclays reduced their target price on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th.

Iridium Communications Company 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.