Iridium Communications Inc (IRDM) Shares Bought by Blair William & Co. IL

Blair William & Co. IL increased its position in Iridium Communications Inc (NASDAQ:IRDM) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 558,815 shares of the technology company’s stock after buying an additional 48,171 shares during the period. Blair William & Co. IL owned about 0.57% of Iridium Communications worth $6,175,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Capital One National Association boosted its stake in shares of Iridium Communications by 0.8% in the first quarter. Capital One National Association now owns 33,822 shares of the technology company’s stock worth $326,000 after buying an additional 272 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Iridium Communications by 4.8% in the first quarter. Vanguard Group Inc. now owns 10,000,166 shares of the technology company’s stock worth $96,501,000 after buying an additional 457,168 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Iridium Communications during the first quarter worth about $443,000. Jane Street Group LLC purchased a new stake in shares of Iridium Communications during the first quarter worth about $483,000. Finally, Eqis Capital Management Inc. boosted its stake in shares of Iridium Communications by 5.4% in the first quarter. Eqis Capital Management Inc. now owns 44,416 shares of the technology company’s stock worth $429,000 after buying an additional 2,280 shares in the last quarter.

Shares of Iridium Communications Inc (NASDAQ IRDM) opened at 10.05 on Tuesday. The company has a market capitalization of $981.56 million, a PE ratio of 10.75 and a beta of 1.69. The company has a 50-day moving average price of $10.50 and a 200-day moving average price of $10.06. Iridium Communications Inc has a 52 week low of $6.80 and a 52 week high of $11.57.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Iridium Communications had a return on equity of 8.68% and a net margin of 27.14%. The business had revenue of $111.60 million for the quarter, compared to the consensus estimate of $109.18 million. During the same quarter in the previous year, the company posted $0.22 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. Analysts predict that Iridium Communications Inc will post $0.80 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by [[site]] and is owned by of [[site]]. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark laws. The legal version of this piece of content can be read at [[permalink]].

A number of brokerages recently issued reports on IRDM. TheStreet cut Iridium Communications from a “b” rating to a “c+” rating in a research note on Thursday, August 17th. BidaskClub cut Iridium Communications from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research upgraded Iridium Communications from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, July 31st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Iridium Communications presently has an average rating of “Buy” and a consensus target price of $12.00.

Iridium Communications Company Profile

Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.