Iridium Communications (NASDAQ:IRDM) Reaches New 1-Year Low - Should You Sell?

Shares of Iridium Communications Inc. (NASDAQ:IRDM - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $24.12 and last traded at $24.70, with a volume of 1032641 shares traded. The stock had previously closed at $25.58.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IRDM. Cantor Fitzgerald assumed coverage on Iridium Communications in a report on Friday, January 24th. They set an "overweight" rating and a $40.00 price target on the stock. StockNews.com raised shares of Iridium Communications from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Barclays dropped their price target on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th.

Iridium Communications Trading Up 8.8 %

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 has a market capitalization of $2.68 billion, a P/E ratio of 25.95, a PEG ratio of 1.28 and a beta of 0.66. The firm's 50-day simple moving average is $28.66 and its 200 day simple moving average is $29.24.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last released its earnings results on Thursday, February 13th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.15 by $0.16. The business had revenue of $212.99 million during the quarter, compared to analyst estimates of $203.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. Equities research analysts anticipate that Iridium Communications Inc. will post 0.89 EPS for the current fiscal year.

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Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, March 17th. Iridium Communications's dividend payout ratio is presently 58.95%.

Insider Buying and Selling

In related news, Director Thomas Fitzpatrick sold 12,500 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $28.53, for a total value of $356,625.00. Following the completion of the transaction, the director now owns 241,030 shares in the company, valued at $6,876,585.90. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company's stock.

Institutional Trading of Iridium Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new position in shares of Iridium Communications in the fourth quarter worth approximately $32,000. SBI Securities Co. Ltd. acquired a new position in Iridium Communications in the 4th quarter worth approximately $37,000. Pinnacle Holdings LLC grew its position in Iridium Communications by 45.4% during the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after purchasing an additional 477 shares in the last quarter. Fifth Third Bancorp raised its stake in 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 purchasing an additional 357 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Iridium Communications by 529.6% in the fourth quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,113 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company's stock.

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.