Amalgamated Bank Sells 4,045 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Amalgamated Bank trimmed its stake in Iridium Communications Inc. (NASDAQ:IRDMGet Rating) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,307 shares of the technology company’s stock after selling 4,045 shares during the quarter. Amalgamated Bank’s holdings in Iridium Communications were worth $3,480,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC bought a new position in Iridium Communications in the fourth quarter valued at approximately $29,000. CWM LLC boosted its stake in shares of Iridium Communications by 95.0% during the 1st quarter. CWM LLC now owns 739 shares of the technology company’s stock worth $30,000 after acquiring an additional 360 shares during the period. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Iridium Communications during the 4th quarter worth approximately $203,000. Inspire Investing LLC bought a new position in shares of Iridium Communications during the 1st quarter worth approximately $235,000. Finally, Telemus Capital LLC boosted its stake in shares of Iridium Communications by 5.3% during the 1st quarter. Telemus Capital LLC now owns 5,949 shares of the technology company’s stock worth $240,000 after acquiring an additional 302 shares during the period. 85.69% of the stock is currently owned by institutional investors.

Insider Transactions at Iridium Communications

In related news, insider Kathleen A. Morgan sold 3,000 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $44.00, for a total value of $132,000.00. Following the completion of the sale, the insider now directly owns 49,399 shares in the company, valued at approximately $2,173,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Barry West sold 3,002 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $44.03, for a total value of $132,178.06. Following the completion of the sale, the director now directly owns 44,423 shares in the company, valued at approximately $1,955,944.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathleen A. Morgan sold 3,000 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $44.00, for a total value of $132,000.00. Following the completion of the sale, the insider now owns 49,399 shares of the company’s stock, valued at $2,173,556. The disclosure for this sale can be found here. In the last three months, insiders sold 172,301 shares of company stock worth $7,810,783. 2.50% of the stock is owned by company insiders.

Iridium Communications Price Performance

Shares of NASDAQ IRDM opened at $44.62 on Friday. The company has a current ratio of 3.23, a quick ratio of 2.97 and a debt-to-equity ratio of 1.33. Iridium Communications Inc. has a 12 month low of $31.73 and a 12 month high of $47.32. The stock has a 50 day moving average of $44.18 and a 200-day moving average of $40.14.

Iridium Communications (NASDAQ:IRDMGet Rating) last issued its earnings results on Tuesday, July 26th. The technology company reported $0.04 EPS for the quarter. Iridium Communications had a negative return on equity of 0.05% and a negative net margin of 0.09%. The company had revenue of $174.90 million during the quarter, compared to the consensus estimate of $166.46 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities analysts expect that Iridium Communications Inc. will post 0.12 earnings per share for the current fiscal year.

Iridium Communications Company Profile

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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.

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

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