ARK Investment Management Reduces $53M in Iridium Communications Inc. ($IRDM)
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ARK Investment Management reduced its position in Iridium Communications Inc. ($IRDM) by 39.42% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,726,802 shares of Iridium Communications Inc. after selling 1,123,804 shares during the quarter. ARK Investment Management's holdings in Iridium Communications Inc. were worth $81.71 million as of its most recent filing.
Iridium Communications Inc. Stock Up 1.5%
Shares of Iridium Communications Inc. ($IRDM) traded around $47.32 on Saturday, up 1.5% for the day.
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Analysts Set New Price Targets
About Iridium Communications Inc.
Iridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and foreign governments, non-governmental organizations, and consumers in the United States, Canada, and internationally. The company offers mobile satellite communications services for land mobile end users and aviation sectors; broadband terminals, embedded devices, and handsets for merchant shipping, fishing, leisure and research vessels, and specialized watercraft; satellite-based IoT services; hosted payload and other data services; and other data services and engineering services. It also provides postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; Internet of Things (IoT); and satellite time and location services. In addition, the company offers personnel tracking devices; asset tracking devices for equipment, vehicles, and aircrafts; beyond-line-of-sight aircraft communications applications; maritime communications applications; specialized communications solutions for high-value individuals; and mobile communications and data devices for the military and other government agencies, such as secure satellite handsets; and maintenance services for the U.S. government's dedicated gateway. Further, it provides satellite handsets, voice and data modems, broadband data devices, and IoT data devices; and various accessories for its devices that include batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables, and charging units. The company sells its products and services to commercial end users through a wholesale distribution network that includes service providers, and value-added resellers and value-added manufacturers. The company was formerly known as Iridium Holdings LLC and changed its name to Iridium Communications Inc. in September 2009. Iridium Communications Inc. is headquartered in McLean, Virginia.
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