Natixis Advisors LLC Lowers Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Natixis Advisors LLC reduced its position in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,204 shares of the technology company’s stock after selling 1,286 shares during the quarter. Natixis Advisors LLC’s holdings in Iridium Communications were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in Iridium Communications by 19.8% during the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock worth $63,000 after buying an additional 357 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Iridium Communications by 4.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the technology company’s stock worth $553,000 after purchasing an additional 729 shares during the last quarter. Ballentine Partners LLC boosted its position in Iridium Communications by 6.8% during the fourth quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company’s stock valued at $340,000 after purchasing an additional 750 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Iridium Communications by 1.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 76,836 shares of the technology company’s stock worth $2,230,000 after buying an additional 866 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Iridium Communications by 13.8% during the 4th quarter. M&T Bank Corp now owns 8,321 shares of the technology company’s stock worth $241,000 after acquiring an additional 1,010 shares in the last quarter. 84.36% of the stock is owned by institutional investors.

Insider Transactions at Iridium Communications

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the company’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 completion of the transaction, the director now directly owns 241,030 shares of the company’s stock, valued at $6,876,585.90. This represents a 4.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating in a research note on Friday, March 21st. Barclays lowered their price objective on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Cantor Fitzgerald started coverage on Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 target price on the stock.

Iridium Communications Trading Down 0.2 %

Shares of Iridium Communications stock opened at $29.48 on Friday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 1.28 and a beta of 0.70. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $35.85. The firm’s 50 day simple moving average is $29.53 and its two-hundred day simple moving average is $29.43.

Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.16. The firm had revenue of $212.99 million for the quarter, compared to analyst estimates of $203.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. Analysts predict that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

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