Swiss National Bank increased its stake in shares of Iridium Communications Inc (NASDAQ:IRDM) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,400 shares of the technology company’s stock after purchasing an additional 7,000 shares during the quarter. Swiss National Bank’s holdings in Iridium Communications were worth $1,669,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in Iridium Communications in the third quarter valued at approximately $191,000. Stevens Capital Management LP acquired a new stake in Iridium Communications in the third quarter valued at approximately $232,000. Alps Advisors Inc. acquired a new stake in Iridium Communications in the fourth quarter valued at approximately $257,000. Crossmark Global Holdings Inc. acquired a new stake in Iridium Communications in the third quarter valued at approximately $286,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Iridium Communications by 47.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 30,300 shares of the technology company’s stock valued at $312,000 after acquiring an additional 9,700 shares during the last quarter. Institutional investors and hedge funds own 99.98% of the company’s stock.
A number of analysts have issued reports on the stock. Zacks Investment Research cut shares of Iridium Communications from a “hold” rating to a “sell” rating in a research note on Saturday, February 24th. ValuEngine cut shares of Iridium Communications from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 23rd. Finally, BidaskClub cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $13.00.
Shares of Iridium Communications Inc (IRDM) opened at $11.10 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.92 and a quick ratio of 1.83. The stock has a market cap of $1,139.25, a P/E ratio of 6.07, a price-to-earnings-growth ratio of 32.00 and a beta of 1.79. Iridium Communications Inc has a one year low of $8.40 and a one year high of $13.25.
Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, February 22nd. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.24). Iridium Communications had a net margin of 52.19% and a return on equity of 7.21%. The business had revenue of $115.50 million during the quarter, compared to analyst estimates of $111.71 million. During the same quarter last year, the firm earned $0.19 earnings per share. Iridium Communications’s revenue was up 7.5% compared to the same quarter last year. equities research analysts predict that Iridium Communications Inc will post 0.07 EPS for the current fiscal year.
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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