Jane Street Group LLC Increases Stock Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Jane Street Group LLC lifted its position in Iridium Communications Inc. (NASDAQ:IRDM) by 76.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 about 0.13% of Iridium Communications worth $4,213,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp raised its holdings in Iridium Communications by 19.8% in the fourth quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company’s stock valued at $63,000 after acquiring an additional 357 shares in the last quarter. Pinnacle Holdings LLC raised its holdings in Iridium Communications by 45.4% in the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company’s stock valued at $44,000 after acquiring an additional 477 shares in the last quarter. EntryPoint Capital LLC raised its holdings in Iridium Communications by 4.1% in the fourth quarter. EntryPoint Capital LLC now owns 15,330 shares of the technology company’s stock valued at $445,000 after acquiring an additional 600 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Iridium Communications by 4.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,060 shares of the technology company’s stock valued at $553,000 after acquiring an additional 729 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in Iridium Communications by 6.8% in the fourth quarter. Ballentine Partners LLC now owns 11,731 shares of the technology company’s stock valued at $340,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Iridium Communications Stock Up 1.7%

IRDM stock opened at $26.45 on Monday. 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 twelve month low of $19.91 and a twelve month high of $35.85. The company’s 50 day moving average is $25.94 and its two-hundred day moving average is $28.32. The stock has a market cap of $2.86 billion, a P/E ratio of 27.84, a PEG ratio of 1.28 and a beta of 0.74.

Iridium Communications (NASDAQ:IRDM) last announced 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 business had revenue of $214.88 million for the quarter, compared to analyst estimates of $211.78 million. Iridium Communications had a net margin of 13.58% and a return on equity of 15.66%. During the same period last year, the firm posted $0.17 earnings per share. Research analysts expect that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.12%. Iridium Communications’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

Several analysts recently weighed in on IRDM shares. Cantor Fitzgerald started coverage on shares of Iridium Communications in a report on Friday, January 24th. They issued an “overweight” rating and a $40.00 target price on the stock. StockNews.com cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. BWS Financial cut their price objective 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. William Blair raised shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 22nd. Finally, Barclays cut their price objective on shares of Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock 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.