Janus Henderson Group PLC Sells 121,949 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Janus Henderson Group PLC lowered its holdings in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 69.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,728 shares of the technology company's stock after selling 121,949 shares during the period. Janus Henderson Group PLC's holdings in Iridium Communications were worth $1,559,000 at the end of the most recent reporting period.

Several 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 in the fourth quarter valued at $32,000. SBI Securities Co. Ltd. bought a new stake in Iridium Communications in the 4th quarter valued at about $37,000. Pinnacle Holdings LLC boosted its stake in Iridium Communications by 45.4% during the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock valued at $44,000 after purchasing an additional 477 shares during the period. Fifth Third Bancorp grew 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 worth $63,000 after purchasing an additional 357 shares during the last quarter. Finally, Covestor Ltd increased its stake 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 purchasing an additional 2,113 shares during the period. 84.36% of the stock is owned by institutional investors.

Iridium Communications Price Performance

Shares of NASDAQ:IRDM traded up $1.07 on Tuesday, reaching $26.29. 557,575 shares of the company traded hands, compared to its average volume of 1,303,471. The company's 50 day moving average is $25.27 and its 200-day moving average is $28.01. The stock has a market capitalization of $2.84 billion, a PE ratio of 27.69, a P/E/G 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 company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25.

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

Iridium Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, June 13th. Iridium Communications's dividend payout ratio is currently 52.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. BWS Financial reduced their price objective on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. William Blair upgraded shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 22nd. Oppenheimer assumed coverage on shares of Iridium Communications in a research report on Monday, May 5th. They set an "outperform" rating and a $34.00 price target on the stock. Wall Street Zen cut shares of Iridium Communications from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Barclays cut their target price on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Iridium Communications currently has an average rating of "Moderate Buy" and a consensus price target of $34.25.

Iridium Communications Company Profile

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.