Gamco Investors INC. ET AL decreased its stake in Iridium Communications Inc (NASDAQ:IRDM) by 1.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 652,151 shares of the technology company’s stock after selling 10,800 shares during the period. Gamco Investors INC. ET AL owned 0.67% of Iridium Communications worth $7,206,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Trexquant Investment LP acquired a new stake in Iridium Communications during the first quarter valued at about $115,000. Victory Capital Management Inc. acquired a new stake in Iridium Communications during the first quarter valued at about $124,000. Suntrust Banks Inc. boosted its stake in Iridium Communications by 2.8% in the first quarter. Suntrust Banks Inc. now owns 13,044 shares of the technology company’s stock valued at $125,000 after buying an additional 357 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in Iridium Communications during the second quarter valued at about $155,000. Finally, Sei Investments Co. boosted its stake in Iridium Communications by 16.3% in the first quarter. Sei Investments Co. now owns 17,826 shares of the technology company’s stock valued at $172,000 after buying an additional 2,503 shares during the period.
Shares of Iridium Communications Inc (NASDAQ IRDM) opened at 10.10 on Wednesday. The stock has a 50 day moving average price of $10.50 and a 200-day moving average price of $10.06. The firm has a market capitalization of $986.45 million, a PE ratio of 10.80 and a beta of 1.69. Iridium Communications Inc has a 52 week low of $6.80 and a 52 week high of $11.57.
Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Thursday, July 27th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $111.60 million during the quarter, compared to analyst estimates of $109.18 million. Iridium Communications had a net margin of 27.14% and a return on equity of 8.68%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Equities analysts anticipate that Iridium Communications Inc will post $0.80 earnings per share for the current year.
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Several equities research analysts have issued reports on IRDM shares. BidaskClub raised Iridium Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Iridium Communications from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, July 31st. Finally, TheStreet cut Iridium Communications from a “b” rating to a “c+” rating in a research note on Thursday, August 17th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target 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.
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