Counterpoint Mutual Funds LLC Has $130,000 Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Counterpoint Mutual Funds LLC trimmed its stake in Iridium Communications Inc. (NASDAQ:IRDM – Get Rating) by 55.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,533 shares of the technology company’s stock after selling 3,127 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Iridium Communications were worth $130,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ronald Blue Trust Inc. grew its holdings in shares of Iridium Communications by 72.3% during the fourth quarter. Ronald Blue Trust Inc. now owns 889 shares of the technology company’s stock valued at $40,000 after buying an additional 373 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Iridium Communications during the second quarter valued at about $38,000. Wipfli Financial Advisors LLC acquired a new position in shares of Iridium Communications during the third quarter valued at about $65,000. CWM LLC grew its holdings in shares of Iridium Communications by 101.2% during the third quarter. CWM LLC now owns 1,463 shares of the technology company’s stock valued at $65,000 after buying an additional 736 shares during the last quarter. Finally, Brave Asset Management Inc. acquired a new position in shares of Iridium Communications during the third quarter valued at about $200,000. 83.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iridium Communications news, CEO Matthew J. Desch sold 2,800 shares of Iridium Communications stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $59.99, for a total value of $167,972.00. Following the sale, the chief executive officer now owns 592,291 shares of the company’s stock, valued at $35,531,537.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Matthew J. Desch sold 21,769 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $54.24, for a total value of $1,180,750.56. Following the sale, the chief executive officer now owns 636,781 shares of the company’s stock, valued at $34,539,001.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Desch sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $59.99, for a total transaction of $167,972.00. Following the completion of the sale, the chief executive officer now directly owns 592,291 shares in the company, valued at approximately $35,531,537.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 287,789 shares of company stock valued at $17,339,473. Company insiders own 2.50% of the company’s stock.

Iridium Communications Stock Down 2.8 %

Iridium Communications stock traded down $1.73 during midday trading on Friday, hitting $59.26. 2,153,817 shares of the stock were exchanged, compared to its average volume of 754,541. Iridium Communications Inc. has a 52-week low of $32.88 and a 52-week high of $65.41. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 846.69 and a beta of 1.11. The business’s 50-day moving average price is $60.22 and its 200-day moving average price is $52.95. The company has a quick ratio of 1.88, a current ratio of 2.16 and a debt-to-equity ratio of 1.30.

Iridium Communications (NASDAQ:IRDM – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The technology company reported ($0.01) EPS for the quarter. The company had revenue of $193.80 million during the quarter, compared to the consensus estimate of $172.52 million. Iridium Communications had a return on equity of 0.75% and a net margin of 1.21%. The business’s revenue was up 24.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. On average, research analysts expect that Iridium Communications Inc. will post 0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IRDM. StockNews.com began coverage on shares of Iridium Communications in a report on Thursday. They set a “hold” rating for the company. Raymond James boosted their price target on shares of Iridium Communications from $60.00 to $71.00 and gave the stock a “strong-buy” rating in a report on Friday, February 17th. Finally, BWS Financial boosted their price target on shares of Iridium Communications from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 9th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.75.

Iridium Communications Profile

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Iridium Communications, Inc engages in the provision of global satellite communications services and products. Its products include personal communicators, messengers, and trackers, satellite phones, push-to-talk-devices, broadband, midband, and external terminals, docking stations, apps, and accessories.