Squarepoint Ops LLC Has $831,000 Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Squarepoint Ops LLC reduced its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 63.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,647 shares of the technology company's stock after selling 49,297 shares during the quarter. Squarepoint Ops LLC's holdings in Iridium Communications were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Iridium Communications in the 4th quarter worth about $186,000. Fifth Third Bancorp increased its stake in shares of Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock valued at $63,000 after acquiring an additional 357 shares during the last quarter. KBC Group NV lifted its holdings in shares of Iridium Communications by 30.3% during the 4th quarter. KBC Group NV now owns 4,948 shares of the technology company's stock worth $144,000 after acquiring an additional 1,152 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Iridium Communications by 12.8% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,829,052 shares of the technology company's stock worth $82,099,000 after acquiring an additional 320,506 shares during the last quarter. Finally, Advisors Preferred LLC acquired a new stake in shares of Iridium Communications in the fourth quarter worth approximately $846,000. Institutional investors and hedge funds own 84.36% of the company's stock.

Analysts Set New Price Targets

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

Iridium Communications Stock Performance

IRDM stock traded up $0.27 on Tuesday, reaching $26.14. The company's stock had a trading volume of 921,338 shares, compared to its average volume of 1,159,721. The firm has a fifty day moving average of $25.00 and a two-hundred day moving average of $27.89. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.73 and a quick ratio of 1.25. The company has a market capitalization of $2.83 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. Iridium Communications Inc. has a 52 week low of $19.91 and a 52 week high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its earnings results 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. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The firm had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, analysts predict that Iridium Communications Inc. will post 0.89 EPS 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. 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 2.14%. The ex-dividend date of this dividend is Friday, June 13th. Iridium Communications's dividend payout ratio is 52.83%.

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.