Van Berkom & Associates Inc. Sells 358,567 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Van Berkom & Associates Inc. decreased its stake in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,171,950 shares of the technology company’s stock after selling 358,567 shares during the period. Iridium Communications makes up about 2.7% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 11th largest holding. Van Berkom & Associates Inc.’s holdings in Iridium Communications were worth $92,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Iridium Communications by 545.7% during the 3rd quarter. Blue Trust Inc. now owns 9,628 shares of the technology company’s stock worth $293,000 after purchasing an additional 8,137 shares in the last quarter. Raymond James & Associates raised its position in Iridium Communications by 22.6% in the 3rd quarter. Raymond James & Associates now owns 326,625 shares of the technology company’s stock valued at $9,946,000 after buying an additional 60,211 shares during the last quarter. Private Advisor Group LLC lifted its stake in Iridium Communications by 186.6% in the 3rd quarter. Private Advisor Group LLC now owns 50,633 shares of the technology company’s stock valued at $1,542,000 after acquiring an additional 32,967 shares in the last quarter. Lecap Asset Management Ltd. boosted its position in Iridium Communications by 6.8% during the 3rd quarter. Lecap Asset Management Ltd. now owns 26,587 shares of the technology company’s stock worth $810,000 after acquiring an additional 1,691 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Iridium Communications by 2,945.0% during the 3rd 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. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications Price Performance

Shares of NASDAQ IRDM opened at $32.12 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. The business has a 50-day moving average of $29.30 and a 200-day moving average of $28.95. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 33.81 and a beta of 0.65. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $35.85.

Iridium Communications (NASDAQ:IRDM) last posted 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 return on equity of 15.66% and a net margin of 13.58%. The firm had revenue of $212.99 million during the quarter, compared to the consensus estimate of $203.78 million. As a group, sell-side analysts predict that Iridium Communications Inc. will post 0.91 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a yield of 1.74%. Iridium Communications’s payout ratio is 58.95%.

Insiders Place Their Bets

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 241,030 shares of the company’s stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald started coverage on shares of Iridium Communications in a report on Friday, January 24th. They issued an “overweight” rating and a $40.00 price objective on the stock.

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.