Iridium Communications Inc. (NASDAQ:IRDM) Shares Bought by Jane Street Group LLC

Jane Street Group LLC increased its position in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 76.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,181 shares of the technology company's stock after purchasing an additional 62,806 shares during the quarter. Jane Street Group LLC owned approximately 0.13% of Iridium Communications worth $4,213,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Iridium Communications by 19.2% during the third quarter. Barclays PLC now owns 856,901 shares of the technology company's stock valued at $26,093,000 after buying an additional 137,924 shares during the period. Franklin Resources Inc. increased its position in Iridium Communications by 18.0% during the 3rd quarter. Franklin Resources Inc. now owns 143,049 shares of the technology company's stock valued at $4,296,000 after purchasing an additional 21,857 shares during the period. Ballentine Partners LLC raised its holdings in shares of Iridium Communications by 6.8% in the 4th quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company's stock valued at $340,000 after purchasing an additional 750 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Iridium Communications by 420.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 39,597 shares of the technology company's stock worth $1,149,000 after purchasing an additional 31,990 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Iridium Communications during the fourth quarter valued at approximately $186,000. 84.36% of the stock is currently owned by hedge funds and other institutional investors.

Iridium Communications Stock Down 1.3%

Shares of IRDM traded down $0.33 during mid-day trading on Wednesday, hitting $25.33. 1,267,859 shares of the company traded hands, compared to its average volume of 1,145,588. The company has a market capitalization of $2.74 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.28 and a beta of 0.74. 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 business has a 50 day moving average of $25.78 and a 200 day moving average of $28.28. Iridium Communications Inc. has a 1-year low of $19.91 and a 1-year high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its 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. The company had revenue of $214.88 million during the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. During the same quarter last year, the business posted $0.17 EPS. Equities research analysts anticipate that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, March 17th. Iridium Communications's dividend payout ratio (DPR) is 52.83%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRDM. 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 objective on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Oppenheimer assumed coverage on shares of Iridium Communications in a report on Monday, May 5th. They issued an "outperform" rating and a $34.00 target price for the company. BWS Financial lowered 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. Finally, StockNews.com lowered shares of Iridium Communications from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.