Dimensional Fund Advisors LP Has $59.84 Million Stake in Iridium Communications Inc. (NASDAQ:IRDM)

Dimensional Fund Advisors LP boosted its position in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,062,066 shares of the technology company's stock after purchasing an additional 149,606 shares during the quarter. Dimensional Fund Advisors LP owned about 1.81% of Iridium Communications worth $59,841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRDM. Plato Investment Management Ltd bought a new stake in Iridium Communications during the 4th quarter valued at $32,000. SBI Securities Co. Ltd. acquired a new position in Iridium Communications during the 4th quarter valued at about $37,000. Pinnacle Holdings LLC raised its position in shares of Iridium Communications by 45.4% during the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after buying an additional 477 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Iridium Communications by 19.8% in the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock worth $63,000 after acquiring an additional 357 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of Iridium Communications by 529.6% in the fourth quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock valued at $73,000 after acquiring an additional 2,113 shares in the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Trading Up 0.9 %

Iridium Communications stock traded up $0.25 during trading hours on Wednesday, reaching $26.50. 91,359 shares of the company's stock traded hands, compared to its average volume of 1,133,705. The firm's 50 day moving average is $26.22 and its 200-day moving average is $28.39. Iridium Communications Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $35.85. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73.

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

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.14 per share. The ex-dividend date was Monday, March 17th. This represents a $0.56 annualized dividend and a yield of 2.11%. Iridium Communications's dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com lowered shares of Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. William Blair upgraded Iridium Communications from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 22nd. Barclays dropped their price target on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. BWS Financial decreased their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Finally, Oppenheimer assumed coverage on Iridium Communications in a report on Monday. They set an "outperform" rating and a $34.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $34.25.

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.