Janus Henderson Group PLC Has $5.35 Million Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Janus Henderson Group PLC lifted its holdings in Iridium Communications Inc. (NASDAQ:IRDM - Free Report) by 237.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 175,677 shares of the technology company's stock after purchasing an additional 123,638 shares during the quarter. Janus Henderson Group PLC owned about 0.15% of Iridium Communications worth $5,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in Iridium Communications by 7,684.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,012 shares of the technology company's stock worth $27,000 after acquiring an additional 999 shares during the last quarter. Blue Trust Inc. boosted its position in Iridium Communications by 109.7% during the 2nd quarter. Blue Trust Inc. now owns 1,491 shares of the technology company's stock worth $39,000 after acquiring an additional 780 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Iridium Communications during the 2nd quarter worth approximately $45,000. Fifth Third Bancorp boosted its position in Iridium Communications by 322.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,735 shares of the technology company's stock worth $46,000 after acquiring an additional 1,324 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Iridium Communications by 83.7% during the 2nd quarter. Signaturefd LLC now owns 1,822 shares of the technology company's stock worth $49,000 after acquiring an additional 830 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a "neutral" rating and set a $30.00 price objective on shares of Iridium Communications in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $41.00.

Insider Activity at Iridium Communications

In other Iridium Communications news, Director Robert H. Niehaus sold 38,355 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $29.39, for a total transaction of $1,127,253.45. Following the transaction, the director now owns 254,824 shares in the company, valued at $7,489,277.36. This trade represents a 13.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzanne E. Mcbride sold 4,420 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $29.48, for a total value of $130,301.60. Following the transaction, the insider now owns 182,797 shares in the company, valued at $5,388,855.56. The trade was a 2.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Iridium Communications Stock Down 2.3 %

Shares of Iridium Communications stock traded down $0.71 on Tuesday, reaching $30.84. 893,919 shares of the company were exchanged, compared to its average volume of 1,080,813. Iridium Communications Inc. has a one year low of $24.14 and a one year high of $41.66. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 32.81 and a beta of 0.65. The company has a current ratio of 2.62, a quick ratio of 2.01 and a debt-to-equity ratio of 2.68. The company has a 50-day moving average of $29.79 and a 200 day moving average of $28.21.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. Iridium Communications had a return on equity of 14.34% and a net margin of 14.09%. The business had revenue of $212.77 million for the quarter, compared to analysts' expectations of $205.68 million. On average, equities research analysts forecast that Iridium Communications Inc. will post 0.8 earnings per share for the current year.

Iridium Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Monday, December 16th. Iridium Communications's dividend payout ratio (DPR) is presently 59.58%.

Iridium Communications announced that its board has initiated a stock repurchase program on Thursday, September 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 14.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.