Jump Financial LLC Has $3.11 Million Position in Iridium Communications Inc. (NASDAQ:IRDM)

Jump Financial LLC increased its holdings in shares of Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 53.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,000 shares of the technology company's stock after acquiring an additional 37,160 shares during the quarter. Jump Financial LLC owned about 0.09% of Iridium Communications worth $3,105,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Iridium Communications by 1.6% in the 4th quarter. JPMorgan Chase & Co. now owns 631,852 shares of the technology company's stock valued at $18,336,000 after buying an additional 10,195 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Iridium Communications by 30.2% during the 4th quarter. Nordea Investment Management AB now owns 248,602 shares of the technology company's stock valued at $7,264,000 after acquiring an additional 57,690 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Iridium Communications by 369.5% during the 4th quarter. Teacher Retirement System of Texas now owns 69,562 shares of the technology company's stock valued at $2,019,000 after acquiring an additional 54,747 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of Iridium Communications by 376.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,858 shares of the technology company's stock valued at $141,000 after acquiring an additional 3,838 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Iridium Communications during the 4th quarter valued at $37,000. 84.36% of the stock is owned by institutional investors and hedge funds.

Iridium Communications Price Performance

IRDM traded up $0.38 on Wednesday, reaching $21.99. The stock had a trading volume of 865,417 shares, compared to its average volume of 1,322,645. 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 50-day moving average of $27.76 and a 200-day moving average of $28.82. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 1.28 and a beta of 0.66.

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, beating 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 the consensus estimate of $211.78 million. During the same quarter in the prior year, the firm posted $0.17 EPS. As a group, sell-side analysts anticipate that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Monday, March 17th. Iridium Communications's dividend payout ratio is currently 58.95%.

Analyst Ratings Changes

A number of analysts have recently weighed in on IRDM shares. StockNews.com downgraded Iridium Communications from a "buy" rating to a "hold" rating in a research report on Tuesday. William Blair upgraded Iridium Communications from a "market perform" rating to an "outperform" rating in a research report on Tuesday. Cantor Fitzgerald started coverage on Iridium Communications in a research report on Friday, January 24th. They set an "overweight" rating and a $40.00 price objective for the company. Barclays lowered their target price on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, BWS Financial lowered their target price on Iridium Communications from $30.00 to $25.00 and set a "neutral" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.33.

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.