Texas Permanent School Fund Sells 4,316 Shares of Iridium Communications Inc (IRDM)

Texas Permanent School Fund trimmed its position in Iridium Communications Inc (NASDAQ:IRDM) by 7.1% during the fourth quarter, HoldingsChannel reports. The firm owned 56,291 shares of the technology company’s stock after selling 4,316 shares during the period. Texas Permanent School Fund’s holdings in Iridium Communications were worth $664,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Iridium Communications by 15.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock valued at $109,000 after purchasing an additional 1,303 shares in the last quarter. QS Investors LLC lifted its holdings in Iridium Communications by 23,091.5% in the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock valued at $120,000 after purchasing an additional 10,853 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Iridium Communications by 22.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 15,997 shares of the technology company’s stock valued at $177,000 after purchasing an additional 2,900 shares in the last quarter. Trexquant Investment LP purchased a new position in Iridium Communications in the 3rd quarter valued at about $191,000. Finally, Piedmont Investment Advisors LLC purchased a new position in Iridium Communications in the 2nd quarter valued at about $195,000.

Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Zacks Investment Research lowered shares of Iridium Communications from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a report on Friday, October 27th. Finally, Wells Fargo & Co increased their price objective 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. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.00.

Iridium Communications Inc (NASDAQ IRDM) opened at $12.55 on Friday. The firm has a market cap of $1,229.54, a PE ratio of 13.64, a PEG ratio of 4.24 and a beta of 1.77. Iridium Communications Inc has a 1-year low of $7.80 and a 1-year high of $13.00. The company has a current ratio of 2.78, a quick ratio of 2.67 and a debt-to-equity ratio of 1.17.

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Iridium Communications Company 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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Institutional Ownership by Quarter for Iridium Communications (NASDAQ:IRDM)

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