Great West Life Assurance Co. Can Has $10.60 Million Stake in Iridium Communications Inc (IRDM)
Great West Life Assurance Co. Can increased its stake in shares of Iridium Communications Inc (NASDAQ:IRDM) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,040,942 shares of the technology company’s stock after purchasing an additional 68,402 shares during the quarter. Great West Life Assurance Co. Can owned approximately 1.06% of Iridium Communications worth $10,597,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Flinton Capital Management LLC boosted its holdings in shares of Iridium Communications by 80.6% during the second quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock worth $101,000 after purchasing an additional 4,060 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in shares of Iridium Communications during the second quarter worth approximately $102,000. PNC Financial Services Group Inc. boosted its holdings in shares of Iridium Communications by 15.3% during the second quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $109,000 after purchasing an additional 1,303 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Iridium Communications during the second quarter worth approximately $116,000. Finally, QS Investors LLC boosted its holdings in shares of Iridium Communications by 23,091.5% during the second quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock worth $120,000 after purchasing an additional 10,853 shares during the period.
Shares of Iridium Communications Inc (IRDM) opened at $12.35 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67. The stock has a market cap of $1,229.54, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 3.01 and a beta of 1.75. Iridium Communications Inc has a one year low of $7.80 and a one year high of $12.90.
Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The firm had revenue of $116.55 million during the quarter, compared to analysts’ expectations of $113.96 million. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. equities research analysts predict that Iridium Communications Inc will post 0.83 EPS for the current fiscal year.
IRDM has been the subject of several research reports. TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, September 27th. Drexel Hamilton restated a “buy” rating and set a $14.00 price target on shares of Iridium Communications in a report on Thursday, August 31st. Wells Fargo & Company raised their price target on shares of Iridium Communications from $9.75 to $12.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Finally, ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Iridium Communications currently has a consensus rating of “Buy” and an average target price of $12.33.
In other Iridium Communications news, Director A B. Krongard bought 45,750 shares of Iridium Communications stock in a transaction on Thursday, November 9th. The stock was purchased at an average cost of $10.89 per share, for a total transaction of $498,217.50. Following the completion of the purchase, the director now directly owns 149,788 shares of the company’s stock, valued at $1,631,191.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.40% of the stock is owned by insiders.
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Iridium Communications 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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