CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 13F: Adds $8.6M to IRDM Stake

Cushing Asset Management increased its stake in Iridium Communications Inc. (IRDM) by 180,500 shares in a filing on October 26, 2026.

IRDM Iridium Communications Inc.

$44.52 ▲ +153.82% year to date

1M 3M YTD

Daily close · Oct 26, 2026

What Changed in Cushing Asset Management's Iridium Position

Cushing Asset Management boosted its position in Iridium Communications by 180,500 shares, which is a 76.5% increase from its previous total of 236,000 shares. The reported value of this position now stands at $19,950,350 within the fund's overall portfolio.

Where Iridium Fits in Cushing Asset Management's Portfolio

Iridium now accounts for 1.41% of Cushing's reported portfolio, ranking 24th among its 73 total positions.

Other Institutional Activity in Iridium Communications

Several other funds have also been active in Iridium Communications. AQR Capital Management, LLC increased its holdings by 3,929,203 shares, bringing its total to 6,847,072 shares valued at approximately $304.8 million. American Century Companies Inc. added 1,386,563 shares, for a total of 4,856,440 shares worth about $216.2 million. Meanwhile, Silver Heights Capital Management Inc. reduced its stake by 1,870,296 shares to 3,274,947 shares valued at about $145.8 million.

Iridium Communications Inc. Stock Up 1.4%

Iridium shares recently traded around $44.40, slightly above the event closing price of $44.25 on October 21, 2026. This trading level indicates a stable position for the stock, reflecting investor interest as the company approaches its next earnings report.

Recent Earnings

Iridium Communications reported trailing twelve-month revenue of approximately $902.97 million, with an earnings per share (EPS) of $0.88. The company's next earnings report is scheduled for February 11, 2027.

Dividend

Iridium Communications pays an annual dividend of $0.60 per share, which translates to a yield of about 1.4% based on recent trading prices. The dividend payout ratio stands at 68.2%.

Insider Buying and Selling at Iridium Communications Inc.

Insider trading activity shows some significant sales. Timothy Kapalka, an officer, sold 13,473 shares on August 17, 2026, for about $680,521. Director Thomas J. Fitzpatrick sold 224,279 shares on August 18, 2026, valued at approximately $11.25 million. Additionally, Timothy James Last sold 2,013 shares on September 3, 2026, and another 5,769 shares on September 15, 2026, for $95,336 and $267,393 respectively.

Analysts Set New Price Targets

On June 30, 2026, Morgan Stanley maintained its Equal-Weight rating on Iridium Communications with a price target of $54.00, up from a previous target of $26.00. The current consensus among analysts suggests a bullish outlook for the stock.

About Iridium Communications

Iridium Communications Inc. provides mobile voice and data services to businesses, governments, and consumers worldwide. Its satellite communications network is crucial for various sectors, including government and emergency services, which enhances its market position.

Bottom Line

Investors should keep an eye on Iridium's upcoming earnings report on February 11, 2027, as well as any further updates from Cushing Asset Management regarding its position in the company. The recent boost in shares highlights the fund's confidence in Iridium's growth potential.