<div id="readability-page-1"><p>Wedge Capital Management L L P NC purchased a new position in  Iridium Communications Inc (NASDAQ:IRDM - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 66,549 shares of the technology company's stock, valued at approximately $1,162,000. Wedge Capital Management L L P NC owned about 0.06% of Iridium Communications at the end of the most recent reporting period.</p><div><p><span></span><span>Get <strong>Iridium Communications</strong> alerts:</span></p></div><ul><li>5 Space Stocks That Could Soar in the Next Decade</li></ul><p>Several other large investors also recently added to or reduced their stakes in the business. SVB Wealth LLC purchased a new position in  Iridium Communications during the first quarter valued at $30,000.  Johnson Financial Group Inc. purchased a new stake in  Iridium Communications in the 2nd quarter worth approximately $70,000.  Carolina Wealth Advisors LLC bought a new stake in  Iridium Communications during the 2nd quarter worth approximately $76,000.  Financiere des Professionnels Fonds d investissement inc. purchased a new position in  Iridium Communications during the second quarter valued at approximately $156,000.  Finally, Bayforest Capital Ltd boosted its position in shares of  Iridium Communications by 527.7% in the first quarter. Bayforest Capital Ltd now owns 6,202 shares of the technology company's stock worth $169,000 after purchasing an additional 5,214 shares during the period. 84.36% of the stock is currently owned by institutional investors. </p><h2>Analyst Ratings Changes</h2><p>Several brokerages have recently commented on IRDM. Barclays decreased their price objective on shares of Iridium Communications from $31.00 to $25.00 and set an &#34;overweight&#34; rating on the stock in a research report on Wednesday, October 1st. Raymond James Financial cut Iridium Communications from a &#34;strong-buy&#34; rating to an &#34;outperform&#34; rating and decreased their price target for the company from $39.00 to $26.00 in a report on Thursday, September 11th. BWS Financial  restated a &#34;sell&#34; rating and issued a $16.00 price objective on shares of Iridium Communications in a research report on Friday, October 24th. Finally, Weiss Ratings cut Iridium Communications from a &#34;hold (c-)&#34; rating to a &#34;sell (d+)&#34; rating in a research report on Saturday, October 25th. Six equities research analysts have rated the stock with a Buy rating and two have assigned  a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of &#34;Moderate Buy&#34; and an average price target of $29.67.</p><ul><li>Signal Boost: 2 Key Satellite Stocks Driving Industry Growth</li></ul><p><b>Get Our Latest Stock Report on IRDM</b></p><h2>Insider Activity at Iridium Communications</h2><p>In other Iridium Communications news, CEO Matthew J. Desch bought 20,000 shares of the firm's stock in a transaction dated Thursday, October 30th. The shares were purchased at an average cost of $17.33 per share, for a total transaction of $346,600.00. Following the transaction, the chief executive officer owned 1,127,019 shares of the company's stock, valued at $19,531,239.27. This represents a 1.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities &amp; Exchange Commission, which is available through this link. Also, Director Robert H. Niehaus purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was acquired at an average cost of $17.49 per share, with a total value of $524,700.00. Following the acquisition, the director owned 297,363 shares in the company, valued at $5,200,878.87. The trade was a 11.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 30,967 shares of company stock valued at $557,406 over the last 90 days. 2.40% of the stock is owned by corporate insiders. </p><h2>Iridium Communications Trading Down 2.8%</h2><ul><li>Can These 3 Stocks Soar On Triple-Digit Earnings Increases?</li></ul><p>Shares of Iridium Communications stock opened at $17.59 on Wednesday. Iridium Communications Inc has a twelve month low of $15.65 and a twelve month high of $34.45. The company has a quick ratio of 1.93, a current ratio of 2.67 and a debt-to-equity ratio of 4.02. The business has a 50-day moving average price of $17.42 and a 200-day moving average price of $22.28. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 1.16 and a beta of 0.61. </p><p>Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.09. Iridium Communications had a return on equity of 24.93% and a net margin of 14.44%.The company had revenue of $226.94 million during the quarter, compared to analyst estimates of $222.13 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis.  Equities research analysts anticipate that  Iridium Communications Inc will post 0.89 EPS for the current fiscal year. </p><h2>Iridium Communications Dividend Announcement</h2><p>The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, December 15th. Iridium Communications's payout ratio is currently 53.10%. </p><h2>Iridium Communications Profile</h2> (Free Report)<p>Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company's unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium's core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).  </p><p>Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.</p><h2>Featured Articles</h2><ul><li>Five stocks we like better than Iridium Communications</li><li>The gift that keeps giving (just $1 today)</li><li>The Best $1 You'll Spend This Holiday Season</li><li>Trump Did WHAT??</li><li>The boring AI play that could pay up to $4,290 monthly</li><li>Trump’s “real estate deal for America” explained</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SVJETQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5BU0RBUSZTeW1ib2w9SVJETQ"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Iridium Communications Right Now?</h2><p>Before you consider Iridium Communications, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Iridium Communications wasn't on the list.</p><p>While Iridium Communications currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

IRDM

<p>Wedge Capital Management L L P NC acquired 66,549 shares of Iridium Communications Inc, valued at approximately $1,162,000, during the third quarter. This new position represents about 0.06% ownership in the company. Several other large investors also recently added or reduced their stakes in Iridium Communications. The stock has a consensus rating of 'Moderate Buy' with an average price target of $29.67. CEO Matthew J. Desch and Director Robert H. Niehaus also made significant stock purchases recently.</p>

Wedge Capital Management L L P NC Acquires New Shares in Iridium Communications Inc $IRDM