KBC Group NV Purchases 1,152 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

KBC Group NV grew its position in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 30.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,948 shares of the technology company’s stock after acquiring an additional 1,152 shares during the quarter. KBC Group NV’s holdings in Iridium Communications were worth $144,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in Iridium Communications by 26.7% during the 3rd quarter. FMR LLC now owns 942,380 shares of the technology company’s stock valued at $28,695,000 after purchasing an additional 198,360 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Iridium Communications during the third quarter valued at about $4,614,000. Barclays PLC increased its position in shares of Iridium Communications by 19.2% during the third quarter. Barclays PLC now owns 856,901 shares of the technology company’s stock worth $26,093,000 after acquiring an additional 137,924 shares in the last quarter. Algert Global LLC increased its position in shares of Iridium Communications by 54.0% during the third quarter. Algert Global LLC now owns 365,121 shares of the technology company’s stock worth $11,118,000 after acquiring an additional 128,018 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Iridium Communications by 237.6% in the 3rd quarter. Janus Henderson Group PLC now owns 175,677 shares of the technology company’s stock worth $5,349,000 after acquiring an additional 123,638 shares during the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. BWS Financial reissued a “neutral” rating and set a $30.00 price objective on shares of Iridium Communications in a report on Monday, October 21st. Cantor Fitzgerald began 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. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.75.

Insider Buying and Selling at Iridium Communications

In other Iridium Communications news, Director Thomas Fitzpatrick sold 12,500 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $28.53, for a total transaction of $356,625.00. Following the sale, the director now owns 241,030 shares of the company’s stock, valued at $6,876,585.90. The trade was a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Iridium Communications Stock Down 1.7 %

Shares of NASDAQ:IRDM opened at $28.57 on Friday. Iridium Communications Inc. has a 1 year low of $24.14 and a 1 year high of $36.32. The company has a market capitalization of $3.25 billion, a PE ratio of 30.39 and a beta of 0.65. The business has a fifty day moving average price of $29.31 and a two-hundred day moving average price of $28.78. The company has a debt-to-equity ratio of 2.68, a current ratio of 2.62 and a quick ratio of 2.01.

Iridium Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Monday, December 16th. Iridium Communications’s dividend payout ratio is currently 59.57%.

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.