Iridium Communications Inc. (NASDAQ:IRDM) Stock Position Reduced by Capital Fund Management S.A.

Capital Fund Management S.A. decreased its position in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 59.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,089 shares of the technology company's stock after selling 122,377 shares during the period. Capital Fund Management S.A. owned approximately 0.07% of Iridium Communications worth $2,382,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IRDM. Sumitomo Mitsui Trust Group Inc. raised its stake in Iridium Communications by 12.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,829,052 shares of the technology company's stock valued at $82,099,000 after acquiring an additional 320,506 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Iridium Communications by 13.2% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 2,827,580 shares of the technology company's stock valued at $82,028,000 after buying an additional 329,915 shares during the period. ARK Investment Management LLC raised its position in shares of Iridium Communications by 5.7% during the 4th quarter. ARK Investment Management LLC now owns 2,507,715 shares of the technology company's stock worth $72,774,000 after buying an additional 134,924 shares in the last quarter. Schroder Investment Management Group lifted its stake 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 worth $64,125,000 after acquiring an additional 683,777 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Iridium Communications by 94.2% in the fourth quarter. American Century Companies Inc. now owns 1,735,842 shares of the technology company's stock valued at $50,374,000 after acquiring an additional 841,951 shares in the last quarter. Institutional investors own 84.36% of the company's stock.

Iridium Communications Price Performance

Shares of NASDAQ IRDM traded down $0.06 during mid-day trading on Friday, reaching $23.77. The company had a trading volume of 738,764 shares, compared to its average volume of 1,112,888. The company has a 50-day moving average price of $28.06 and a two-hundred day moving average price of $28.91. The stock has a market cap of $2.58 billion, a PE ratio of 25.02, a P/E/G ratio of 1.28 and a beta of 0.66. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. Iridium Communications Inc. has a 1-year low of $22.18 and a 1-year high of $35.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.16. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The firm had revenue of $212.99 million for the quarter, compared to analysts' expectations of $203.78 million. On average, equities analysts anticipate that Iridium Communications Inc. will post 0.89 earnings per share for the current year.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.14 per share. The ex-dividend date was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.36%. Iridium Communications's dividend payout ratio is currently 58.95%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Iridium Communications from a "hold" rating to a "buy" rating in a research report on Sunday, April 6th. Cantor Fitzgerald began coverage on Iridium Communications in a report on Friday, January 24th. They issued an "overweight" rating and a $40.00 price objective for the company. Finally, Barclays lowered their target price on Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, March 10th.

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.