Xponance Inc. Sells 1,500 Shares of Iridium Communications Inc. (NASDAQ:IRDM)

Xponance Inc. decreased its position in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 26,009 shares of the technology company’s stock after selling 1,500 shares during the quarter. Xponance Inc.’s holdings in Iridium Communications were worth $1,071,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Iridium Communications in the 4th quarter valued at about $41,000. Covestor Ltd raised its holdings in shares of Iridium Communications by 83.2% in the 3rd quarter. Covestor Ltd now owns 1,006 shares of the technology company’s stock valued at $46,000 after acquiring an additional 457 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Iridium Communications in the 3rd quarter valued at about $125,000. ORG Partners LLC raised its holdings in shares of Iridium Communications by 20.6% in the 4th quarter. ORG Partners LLC now owns 3,216 shares of the technology company’s stock valued at $132,000 after acquiring an additional 550 shares in the last quarter. Finally, Malaga Cove Capital LLC purchased a new stake in shares of Iridium Communications in the 3rd quarter valued at about $234,000. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Iridium Communications Price Performance

IRDM opened at $29.28 on Thursday. The stock’s 50 day simple moving average is $27.41 and its 200 day simple moving average is $34.57. The company has a debt-to-equity ratio of 1.86, a current ratio of 3.33 and a quick ratio of 2.52. Iridium Communications Inc. has a 1 year low of $24.14 and a 1 year high of $66.15. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 139.43 and a beta of 0.85.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Thursday, April 18th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. Iridium Communications had a return on equity of 2.76% and a net margin of 3.20%. The business had revenue of $203.80 million for the quarter, compared to analyst estimates of $193.84 million. During the same period last year, the company earned $0.08 EPS. Iridium Communications’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts predict that Iridium Communications Inc. will post 0.74 earnings per share for the current year.

Iridium Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.52 annualized dividend and a yield of 1.78%. Iridium Communications’s payout ratio is 247.62%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IRDM. BWS Financial reaffirmed a “neutral” rating and issued a $30.00 price target on shares of Iridium Communications in a report on Monday. William Blair cut Iridium Communications from an “outperform” rating to a “market perform” rating in a report on Thursday, February 15th. TheStreet raised Iridium Communications from a “d+” rating to a “c-” rating in a report on Thursday, February 15th. Barclays decreased their price objective on Iridium Communications from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Finally, Raymond James decreased their price objective on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Iridium Communications currently has an average rating of “Moderate Buy” and an average price target of $44.25.

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.