Iridium Communications Inc. (NASDAQ:IRDM) Holdings Increased by Aquatic Capital Management LLC

Aquatic Capital Management LLC raised its position in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 74.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,083 shares of the technology company's stock after purchasing an additional 30,283 shares during the period. Aquatic Capital Management LLC owned about 0.06% of Iridium Communications worth $2,063,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Plato Investment Management Ltd acquired a new position in shares of Iridium Communications in the 4th quarter valued at $32,000. SBI Securities Co. Ltd. acquired a new position in Iridium Communications during the 4th quarter worth approximately $37,000. Pinnacle Holdings LLC lifted its position in shares of Iridium Communications by 45.4% during the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after purchasing an additional 477 shares in the last quarter. Fifth Third Bancorp boosted its position in Iridium Communications by 19.8% in the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock valued at $63,000 after buying an additional 357 shares during the last quarter. Finally, Covestor Ltd grew its stake in Iridium Communications by 529.6% during the 4th quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,113 shares in the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Iridium Communications Stock Performance

NASDAQ IRDM traded up $1.10 during trading hours on Friday, hitting $25.17. The company had a trading volume of 1,117,109 shares, compared to its average volume of 1,133,423. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 3.05. The firm has a market cap of $2.72 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. Iridium Communications Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $35.85. The business has a fifty day simple moving average of $26.46 and a 200-day simple moving average of $28.44.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. The business had revenue of $214.88 million for the quarter, compared to analysts' expectations of $211.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. During the same quarter last year, the company earned $0.17 EPS. Equities analysts predict that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.56 annualized dividend and a dividend yield of 2.22%. Iridium Communications's dividend payout ratio is presently 52.83%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Cantor Fitzgerald started coverage on shares of Iridium Communications in a report on Friday, January 24th. They issued an "overweight" rating and a $40.00 price objective for the company. StockNews.com cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday. Barclays decreased their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, BWS Financial dropped their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.33.

About Iridium Communications

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.