97 institutional investors are raising stakes in Iridium Communications Inc. (IRDM)

Iridium Communications Inc. (NASDAQ:IRDM) enjoyed a 61.33% run-up in share price since hitting record low of $7.50. The stock managed 11.01% rise and now stands at $12.1 as of Oct. 26, 2017. At recent session, the prices were hovering between $11.3 and $12.15. This company shares are 5.7% off its target price of $12.79 and the current market capitalization stands at $1.19B. The recent change has given its price a 14.63% lead over SMA 50 and 4.54% lead over its 52-week high. The stock witnessed 19.21% gains, 16.91% gains and 14.15% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found IRDM’s volatility during a week at 3.54% and during a month it has been found around 2.89%.

Iridium Communications Inc. (IRDM) Top Holders

Institutional investors currently hold around $1.1 billion or 0% in IRDM stock. Look at its top three institutional owners. Blackrock Inc. owns $131.09 million in Iridium Communications Inc., which represents roughly 11.02% of the company’s market cap and approximately 11.91% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 10,250,671 shares of the stock are valued at $111.73 million. The third largest holder is Bamco Inc /Ny/, which currently holds $101.74 million worth of this stock and that ownership represents nearly 8.55% of its market capitalization.

Iridium Communications Inc. 13F Filings

At the end of 06/30/2017 reporting period, 97 institutional holders increased their position in Iridium Communications Inc. (NASDAQ:IRDM) by some 4,898,792 shares, 77 decreased positions by 4,064,605 and 34 held positions by 92,073,601. That puts total institutional holdings at 101,036,998 shares, according to SEC filings. The stock grabbed 29 new institutional investments totaling 781,957 shares while 23 institutional investors sold out their entire positions totaling 749,800 shares.

Iridium Communications Inc. (NASDAQ:IRDM) Insider Trades

Multiple company employees have indulged in significant insider trading. Iridium Communications Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that COO Smith S. Scott has sold 135,000 shares of Iridium Communications Inc. (IRDM) in trading session dated Aug. 30, 2017. These shares are worth $1,418,850 and were traded at $10.51 each. The SEC filing shows that Krongard A B performed a purchase of 29,000 shares. The Director added these shares by way of transaction on Mar. 10, 2017. The company’s shares were assimilated at $8.51 per share worth to an investment of some $246,790 on account of Krongard A B.

Director, Canfield Thomas C, purchased 7,483 common shares of Iridium Communications Inc. (IRDM) in the open market. In a transaction dated Mar. 06, 2017, the shares were bought at an average price of $8.14, giving away a sum of $60,912. After this purchase, 211,609 common shares of IRDM are directly owned by the insider, with total stake valued at $2,560,469.

In the transaction dated Dec. 16, 2016, the great number of shares acquired came courtesy the Director; Krongard A B added a total of 50,000 shares at an average price of $9.95, amounting to approximately $497,500. The insider now directly owns 221,045 shares worth $2,674,645.

Iridium Communications Inc. (IRDM) Analyst Guide

Several analysts have released their opinion on Iridium Communications Inc. (NASDAQ:IRDM), with 3 analysts believing it is a strong buy. Whereas 3 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2 average brokerage recommendation.

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