Values First Advisors Inc. Purchases 1,358 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Values First Advisors Inc. increased its position in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 11.7% in the 4th quarter, HoldingsChannel reports. The fund owned 12,921 shares of the technology company’s stock after acquiring an additional 1,358 shares during the period. Values First Advisors Inc.’s holdings in Iridium Communications were worth $532,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Covestor Ltd raised its stake in shares of Iridium Communications by 247.5% during the 2nd quarter. Covestor Ltd now owns 549 shares of the technology company’s stock worth $34,000 after acquiring an additional 391 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Iridium Communications during the 4th quarter worth approximately $36,000. Quarry LP purchased a new stake in Iridium Communications during the 2nd quarter worth approximately $39,000. West Tower Group LLC purchased a new stake in Iridium Communications during the 2nd quarter worth approximately $41,000. Finally, Belpointe Asset Management LLC grew its position in Iridium Communications by 78.7% during the 1st quarter. Belpointe Asset Management LLC now owns 990 shares of the technology company’s stock worth $61,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 84.36% of the company’s stock.

Iridium Communications Stock Performance

NASDAQ IRDM traded down $0.14 during mid-day trading on Thursday, reaching $26.16. 734,355 shares of the stock were exchanged, compared to its average volume of 1,080,975. The business’s 50 day moving average is $31.21 and its 200-day moving average is $37.45. Iridium Communications Inc. has a 1 year low of $25.27 and a 1 year high of $68.34. The company has a market capitalization of $3.20 billion, a P/E ratio of 201.54 and a beta of 0.87. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.37 and a current ratio of 2.06.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, February 15th. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.27. The company had revenue of $194.74 million during the quarter, compared to analysts’ expectations of $192.13 million. Iridium Communications had a net margin of 1.95% and a return on equity of 1.58%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) earnings per share. On average, equities research analysts forecast that Iridium Communications Inc. will post 0.72 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, March 14th. Iridium Communications’s dividend payout ratio is presently 400.00%.

Wall Street Analysts Forecast Growth

IRDM has been the topic of several research analyst reports. Raymond James dropped their target price on shares of Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 16th. William Blair downgraded shares of Iridium Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. BWS Financial downgraded shares of Iridium Communications from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock. in a report on Friday, February 16th. TheStreet raised shares of Iridium Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 15th. Finally, Barclays dropped their price objective on shares of Iridium Communications from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.80.

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.