EntryPoint Capital LLC Increases Stock Position in Iridium Communications Inc. (NASDAQ:IRDM)

EntryPoint Capital LLC grew its position in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,330 shares of the technology company’s stock after purchasing an additional 600 shares during the period. EntryPoint Capital LLC’s holdings in Iridium Communications were worth $445,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in Iridium Communications during the fourth quarter valued at $32,000. SBI Securities Co. Ltd. purchased a new stake in shares of Iridium Communications during the 4th quarter valued at about $37,000. Fifth Third Bancorp lifted its holdings in shares of Iridium Communications by 19.8% in the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after acquiring an additional 357 shares during the last quarter. GAMMA Investing LLC grew its position in Iridium Communications by 44.8% in the fourth quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company’s stock worth $101,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Iridium Communications during the fourth quarter worth approximately $131,000. 84.36% of the stock is owned by institutional investors.

Iridium Communications Trading Up 2.9 %

IRDM opened at $29.00 on Wednesday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73. The stock’s 50 day moving average price is $29.45 and its 200-day moving average price is $29.42. Iridium Communications Inc. has a one year low of $24.14 and a one year high of $35.85. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.28 and a beta of 0.70.

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

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a yield of 1.93%. Iridium Communications’s payout ratio is 58.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald began coverage on Iridium Communications in a research note on Friday, January 24th. They issued an “overweight” rating and a $40.00 price objective for the company. StockNews.com upgraded Iridium Communications from a “hold” rating to a “buy” rating in a research report on Friday, March 21st. Finally, Barclays cut their price objective on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th.

Insider Buying and Selling at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of Iridium Communications stock in a transaction on Friday, January 10th. The stock was sold at an average price of $28.53, for a total transaction of $356,625.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

About Iridium Communications

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.