Proficio Capital Partners LLC Makes New Investment in Iridium Communications Inc. (NASDAQ:IRDM)

Proficio Capital Partners LLC bought a new stake in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,046 shares of the technology company's stock, valued at approximately $408,000.

• Signal Boost: 2 Key Satellite Stocks Driving Industry Growth

Other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd bought a new position in Iridium Communications during the fourth quarter valued at about $32,000. SBI Securities Co. Ltd. purchased a new stake in shares of Iridium Communications during the 4th quarter worth approximately $37,000. Fifth Third Bancorp increased 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 worth $63,000 after purchasing an additional 357 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Iridium Communications by 44.8% in the 4th quarter. GAMMA Investing LLC now owns 3,473 shares of the technology company's stock worth $101,000 after purchasing an additional 1,074 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in Iridium Communications by 376.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,858 shares of the technology company's stock valued at $141,000 after purchasing an additional 3,838 shares during the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Thomas Fitzpatrick sold 12,500 shares of the business's stock in a transaction dated 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 owns 241,030 shares of the company's stock, valued at approximately $6,876,585.90. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

• Can These 3 Stocks Soar On Triple-Digit Earnings Increases?

A number of research firms have issued reports on IRDM. StockNews.com raised Iridium Communications from a "hold" rating to a "buy" rating in a research report on Friday. Cantor Fitzgerald started coverage on Iridium Communications in a report on Friday, January 24th. They issued an "overweight" rating and a $40.00 price objective for the company. Finally, Barclays lowered their price objective on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th.

View Our Latest Stock Report on IRDM

Iridium Communications Trading Up 2.0 %

• Upbeat Analysts Project Promising Prospects For Iridium Stock

NASDAQ:IRDM opened at $28.19 on Tuesday. 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 Inc. has a 1 year low of $24.14 and a 1 year high of $35.85. The company has a market cap of $3.07 billion, a P/E ratio of 29.67, a P/E/G ratio of 1.28 and a beta of 0.70. The stock's fifty day moving average price is $29.42 and its two-hundred day moving average price is $29.41.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its earnings results on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.15 by $0.16. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The business had revenue of $212.99 million during the quarter, compared to the consensus estimate of $203.78 million. As a group, analysts expect that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Monday, March 17th. Iridium Communications's payout ratio is 58.95%.

Iridium Communications Company 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.

Recommended Stories

• Five stocks we like better than Iridium Communications
• Stock Market Upgrades: What Are They?
• Super Micro Stock: $7.2M Call Options Signal Big Upside Potential
• The How And Why of Investing in Oil Stocks
• Top 3 Buy-and-Hold Stocks for 2025: Long-Term Winners to Watch
• Canadian Penny Stocks: Can They Make You Rich?
• D-Wave Stock: Is Quantum Blockchain the Next Big Catalyst?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Iridium Communications Right Now?

Before you consider Iridium Communications, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Iridium Communications wasn't on the list.

While Iridium Communications currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here