Iridium Communications (IRDM) Shares Bought by Chicago Equity Partners LLC

Chicago Equity Partners LLC lifted its holdings in shares of Iridium Communications (NASDAQ:IRDM) by 25.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 147,390 shares of the technology company’s stock after buying an additional 29,700 shares during the period. Chicago Equity Partners LLC owned about 0.13% of Iridium Communications worth $1,658,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of IRDM. Balter Liquid Alternatives LLC grew its position in Iridium Communications by 175.4% during the 1st quarter. Balter Liquid Alternatives LLC now owns 65,799 shares of the technology company’s stock worth $740,000 after acquiring an additional 41,910 shares during the last quarter. SG Americas Securities LLC grew its position in Iridium Communications by 137.4% during the 1st quarter. SG Americas Securities LLC now owns 113,766 shares of the technology company’s stock worth $1,280,000 after acquiring an additional 65,835 shares during the last quarter. Alps Advisors Inc. grew its position in Iridium Communications by 154.7% during the 1st quarter. Alps Advisors Inc. now owns 55,398 shares of the technology company’s stock worth $623,000 after acquiring an additional 33,647 shares during the last quarter. Wells Fargo & Company MN grew its position in Iridium Communications by 143.8% during the 1st quarter. Wells Fargo & Company MN now owns 838,345 shares of the technology company’s stock worth $9,432,000 after acquiring an additional 494,515 shares during the last quarter. Finally, Elkfork Partners LLC bought a new stake in Iridium Communications during the 4th quarter worth $108,000. 89.63% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research lowered Iridium Communications from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. BWS Financial assumed coverage on Iridium Communications in a research report on Wednesday, May 9th. They set a “buy” rating and a $22.00 price objective on the stock. BidaskClub upgraded Iridium Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, March 27th. TheStreet lowered Iridium Communications from a “b” rating to a “c+” rating in a research report on Tuesday. Finally, ValuEngine upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $15.25.

Shares of IRDM stock opened at $11.70 on Friday. Iridium Communications has a twelve month low of $11.55 and a twelve month high of $11.68. The firm has a market cap of $1.27 billion, a P/E ratio of 16.71, a PEG ratio of 21.66 and a beta of 1.80. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.58 and a current ratio of 2.68.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, April 26th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Iridium Communications had a return on equity of 5.19% and a net margin of 44.81%. The firm had revenue of $119.10 million for the quarter, compared to analyst estimates of $111.60 million. During the same quarter in the previous year, the company posted $0.30 EPS. The business’s revenue was up 14.1% on a year-over-year basis. equities research analysts expect that Iridium Communications will post 0.11 EPS for the current fiscal year.

Iridium Communications Profile

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.

Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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