Janus Henderson Group PLC Has $1.56 Million Stock Position in Iridium Communications Inc. (NASDAQ:IRDM)

Janus Henderson Group PLC reduced its position in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 69.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,728 shares of the technology company's stock after selling 121,949 shares during the quarter. Janus Henderson Group PLC's holdings in Iridium Communications were worth $1,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Iridium Communications during the 4th quarter valued at approximately $28,240,000. American Century Companies Inc. lifted its position in shares of Iridium Communications by 94.2% in the 4th quarter. American Century Companies Inc. now owns 1,735,842 shares of the technology company's stock worth $50,374,000 after buying an additional 841,951 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Iridium Communications by 44.7% in the 4th quarter. Schroder Investment Management Group now owns 2,213,512 shares of the technology company's stock valued at $64,125,000 after buying an additional 683,777 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Iridium Communications during the 4th quarter valued at about $17,613,000. Finally, ArrowMark Colorado Holdings LLC raised its stake in Iridium Communications by 37.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,088,053 shares of the technology company's stock worth $60,595,000 after acquiring an additional 567,164 shares during the period. Institutional investors and hedge funds own 84.36% of the company's stock.

Iridium Communications Price Performance

Iridium Communications stock traded down $0.55 during midday trading on Wednesday, hitting $25.68. The company's stock had a trading volume of 59,093 shares, compared to its average volume of 1,154,807. Iridium Communications Inc. has a 12 month low of $19.91 and a 12 month high of $35.85. 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 stock's 50-day moving average price is $25.24 and its 200-day moving average price is $28.00. The company has a market capitalization of $2.78 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74.

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

Iridium Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, June 13th. Iridium Communications's payout ratio is 52.83%.

Wall Street Analyst Weigh In

IRDM has been the subject of a number of recent research reports. BWS Financial lowered their price objective on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. William Blair raised shares of Iridium Communications from a "market perform" rating to an "outperform" rating in a report on Tuesday, April 22nd. Barclays reduced their target price on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Oppenheimer began coverage on Iridium Communications in a report on Monday, May 5th. They set an "outperform" rating and a $34.00 price target on the stock. Finally, Wall Street Zen cut Iridium Communications from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.

Iridium Communications 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.