WINTON GROUP Ltd Has $4.65 Million Stock Position in Iridium Communications Inc. (NASDAQ:IRDM)

WINTON GROUP Ltd increased its holdings in Iridium Communications Inc. (NASDAQ:IRDM) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,291 shares of the technology company’s stock after acquiring an additional 10,775 shares during the period. WINTON GROUP Ltd owned about 0.14% of Iridium Communications worth $4,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Plato Investment Management Ltd purchased a new stake in shares of Iridium Communications in the fourth quarter worth approximately $32,000. SBI Securities Co. Ltd. purchased a new stake in Iridium Communications in the 4th quarter worth approximately $37,000. Fifth Third Bancorp boosted its stake in shares of Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after buying an additional 357 shares during the period. GAMMA Investing LLC grew its holdings in shares of Iridium Communications by 44.8% during the 4th quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company’s stock valued at $101,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new position in shares of Iridium Communications in the fourth quarter worth $131,000. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on IRDM. Cantor Fitzgerald began coverage on Iridium Communications in a research note on Friday, January 24th. They issued an “overweight” rating and a $40.00 target price on the stock. Barclays reduced their price target on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, StockNews.com upgraded Iridium Communications from a “hold” rating to a “buy” rating in a report on Friday, March 21st.

Iridium Communications Price Performance

NASDAQ IRDM opened at $29.54 on Thursday. The firm has a market cap of $3.22 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 1.28 and a beta of 0.70. The stock’s 50-day moving average is $29.49 and its two-hundred day moving average is $29.42. Iridium Communications Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $35.85. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data 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. The business had revenue of $212.99 million for the quarter, compared to the consensus estimate of $203.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. On average, analysts anticipate that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, March 17th. Iridium Communications’s payout ratio is 58.95%.

Insider Buying and Selling

In related news, Director Thomas Fitzpatrick sold 12,500 shares of the 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 completion of the sale, the director now owns 241,030 shares in the company, valued at $6,876,585.90. This represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by insiders.

Iridium Communications Profile

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.