Pacer Advisors Inc. Has $21.52 Million Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Pacer Advisors Inc. grew its position in Iridium Communications Inc. (NASDAQ:IRDM) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 741,577 shares of the technology company’s stock after purchasing an additional 29,821 shares during the quarter. Pacer Advisors Inc. owned about 0.65% of Iridium Communications worth $21,521,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. KBC Group NV grew its holdings in Iridium Communications by 30.3% in the 4th quarter. KBC Group NV now owns 4,948 shares of the technology company’s stock valued at $144,000 after buying an additional 1,152 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Iridium Communications by 19.8% in the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after acquiring an additional 357 shares during the period. Inspire Investing LLC grew its stake in shares of Iridium Communications by 185.7% in the fourth quarter. Inspire Investing LLC now owns 43,265 shares of the technology company’s stock valued at $1,256,000 after acquiring an additional 28,119 shares in the last quarter. SG Americas Securities LLC bought a new position in Iridium Communications during the fourth quarter worth about $186,000. Finally, Crossmark Global Holdings Inc. boosted its holdings in Iridium Communications by 420.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 39,597 shares of the technology company’s stock valued at $1,149,000 after purchasing an additional 31,990 shares during the period. Institutional investors own 84.36% of the company’s stock.

Insider Buying and Selling

In related news, insider Suzanne E. Mcbride sold 4,420 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $29.48, for a total value of $130,301.60. Following the completion of the transaction, the insider now owns 182,797 shares of the company’s stock, valued at $5,388,855.56. This represents a 2.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Fitzpatrick sold 12,500 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $28.53, for a total transaction of $356,625.00. Following the sale, the director now directly owns 241,030 shares in the company, valued at approximately $6,876,585.90. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,977 shares of company stock worth $488,593 in the last ninety days. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on IRDM shares. BWS Financial reaffirmed a “neutral” rating and set a $30.00 target price on shares of Iridium Communications in a report on Monday, October 21st. Cantor Fitzgerald began coverage on Iridium Communications in a research note on Friday. They set an “overweight” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.75.

Iridium Communications Stock Performance

Shares of NASDAQ:IRDM opened at $29.82 on Tuesday. Iridium Communications Inc. has a 1 year low of $24.14 and a 1 year high of $37.13. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 31.72 and a beta of 0.65. The company has a debt-to-equity ratio of 2.68, a current ratio of 2.62 and a quick ratio of 2.01. The company’s 50 day simple moving average is $29.33 and its 200 day simple moving average is $28.67.

Iridium Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.88%. Iridium Communications’s dividend payout ratio (DPR) is currently 59.58%.

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.