Natixis Advisors LLC Sells 1,286 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Natixis Advisors LLC reduced its stake in Iridium Communications Inc. (NASDAQ:IRDM) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,204 shares of the technology company’s stock after selling 1,286 shares during the period. Natixis Advisors LLC’s holdings in Iridium Communications were worth $412,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IRDM. Nordea Investment Management AB increased its holdings in shares of Iridium Communications by 30.2% in the fourth quarter. Nordea Investment Management AB now owns 248,602 shares of the technology company’s stock worth $7,264,000 after purchasing an additional 57,690 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Iridium Communications by 376.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,858 shares of the technology company’s stock valued at $141,000 after buying an additional 3,838 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Iridium Communications during the 4th quarter valued at approximately $37,000. Inspire Investing LLC raised its holdings in shares of Iridium Communications by 185.7% during the 4th quarter. Inspire Investing LLC now owns 43,265 shares of the technology company’s stock worth $1,256,000 after acquiring an additional 28,119 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Iridium Communications by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,093,223 shares of the technology company’s stock worth $31,725,000 after acquiring an additional 37,371 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Analyst Upgrades and Downgrades

IRDM has been the subject of a number of recent research reports. 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 target price for the company. Barclays reduced their target price on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Finally, StockNews.com raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a report on Friday, March 21st.

Insider Buying and Selling at Iridium Communications

In other 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 in the company, valued at approximately $6,876,585.90. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Iridium Communications Stock Down 0.2 %

Shares of IRDM opened at $29.48 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. The business has a fifty day moving average of $29.53 and a 200 day moving average of $29.43. The company has a market cap of $3.21 billion, a PE ratio of 31.03, a P/E/G ratio of 1.28 and a beta of 0.70. Iridium Communications Inc. has a 52-week low of $24.14 and a 52-week high of $35.85.

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

Iridium Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, March 17th. This represents a $0.56 annualized dividend and a dividend yield of 1.90%. Iridium Communications’s dividend payout ratio (DPR) is presently 58.95%.

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.