WealthTrust Axiom LLC Lowers Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

WealthTrust Axiom LLC decreased its holdings in Iridium Communications Inc. (NASDAQ:IRDM) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,193 shares of the technology company’s stock after selling 10,873 shares during the quarter. Iridium Communications makes up approximately 1.0% of WealthTrust Axiom LLC’s holdings, making the stock its 24th largest holding. WealthTrust Axiom LLC owned 0.06% of Iridium Communications worth $3,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. purchased a new stake in Iridium Communications in the 4th quarter valued at about $1,548,000. Hsbc Holdings PLC lifted its stake in shares of Iridium Communications by 11.9% in the 3rd quarter. Hsbc Holdings PLC now owns 54,578 shares of the technology company’s stock valued at $2,498,000 after purchasing an additional 5,823 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Iridium Communications by 92.7% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 43,137 shares of the technology company’s stock valued at $1,962,000 after purchasing an additional 20,752 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Iridium Communications by 2,918.9% in the 4th quarter. Pacer Advisors Inc. now owns 603,900 shares of the technology company’s stock valued at $24,857,000 after purchasing an additional 583,896 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Iridium Communications by 1,167.9% in the 3rd quarter. GSA Capital Partners LLP now owns 51,310 shares of the technology company’s stock valued at $2,334,000 after purchasing an additional 47,263 shares in the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

Iridium Communications Stock Down 1.5 %

IRDM stock traded down $0.47 during midday trading on Tuesday, hitting $31.33. 996,199 shares of the company’s stock were exchanged, compared to its average volume of 1,169,836. The company has a current ratio of 3.33, a quick ratio of 2.52 and a debt-to-equity ratio of 1.86. Iridium Communications Inc. has a 12-month low of $24.14 and a 12-month high of $65.69. The firm has a 50 day moving average price of $27.33 and a 200-day moving average price of $34.21. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 152.52 and a beta of 0.85.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data 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 company had revenue of $203.80 million for the quarter, compared to the consensus estimate of $193.84 million. During the same period in the previous year, the business earned $0.08 EPS. Iridium Communications’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts anticipate that Iridium Communications Inc. will post 0.73 EPS for the current year.

Iridium Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.66%. Iridium Communications’s dividend payout ratio (DPR) is 247.62%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRDM. BWS Financial reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Iridium Communications in a research note on Monday, April 22nd. Barclays boosted their price target on Iridium Communications from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday. William Blair lowered Iridium Communications from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 15th. Raymond James reduced their price target on Iridium Communications from $53.00 to $48.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 16th. Finally, TheStreet raised Iridium Communications from a “d+” rating to a “c-” rating in a research report on Thursday, February 15th. Three equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.75.

Iridium Communications Company 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.