Point72 Asia Singapore Pte. Ltd. Has $113,000 Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Point72 Asia Singapore Pte. Ltd. decreased its position in Iridium Communications Inc. (NASDAQ:IRDM) by 79.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,894 shares of the technology company’s stock after selling 15,042 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Iridium Communications were worth $113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in shares of Iridium Communications in the fourth quarter valued at about $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Iridium Communications during the fourth quarter worth approximately $37,000. Pinnacle Holdings LLC boosted its holdings in shares of Iridium Communications by 45.4% during the fourth quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company’s stock worth $44,000 after acquiring an additional 477 shares during the period. Fifth Third Bancorp raised its position in shares of 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 buying an additional 357 shares in the last quarter. Finally, Covestor Ltd raised its position 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 buying an additional 2,113 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.

Iridium Communications Price Performance

Shares of NASDAQ IRDM opened at $25.45 on Friday. Iridium Communications Inc. has a fifty-two week low of $19.91 and a fifty-two week high of $35.85. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.28 and a beta of 0.74. The company has a debt-to-equity ratio of 3.05, a quick ratio of 1.25 and a current ratio of 1.73. The firm’s 50-day simple moving average is $25.51 and its 200 day simple moving average is $28.20.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $214.88 million during 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 quarter last year, the business posted $0.17 EPS. As a group, research analysts anticipate that Iridium Communications Inc. will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.14 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.56 annualized dividend and a yield of 2.20%. Iridium Communications’s dividend payout ratio (DPR) is 52.83%.

Analyst Upgrades and Downgrades

Several research analysts have commented on IRDM shares. Cantor Fitzgerald started coverage on shares of Iridium Communications in a research report on Friday, January 24th. They set an “overweight” rating and a $40.00 price objective for the company. BWS Financial reduced their price objective on shares of Iridium Communications from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. StockNews.com cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Oppenheimer started coverage on shares of Iridium Communications in a research report on Monday, May 5th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, William Blair raised shares of Iridium Communications from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.