Teachers Retirement System of The State of Kentucky Has $1.17 Million Holdings in Iridium Communications Inc. (NASDAQ:IRDM)

Teachers Retirement System of The State of Kentucky reduced its holdings in Iridium Communications Inc. (NASDAQ:IRDM) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,307 shares of the technology company’s stock after selling 830 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Iridium Communications were worth $1,170,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC raised its stake in shares of Iridium Communications by 4.8% in the fourth quarter. MetLife Investment Management LLC now owns 64,601 shares of the technology company’s stock valued at $1,875,000 after purchasing an additional 2,959 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Iridium Communications by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,062,066 shares of the technology company’s stock worth $59,841,000 after acquiring an additional 149,606 shares during the last quarter. First Trust Advisors LP boosted its stake in Iridium Communications by 40.0% in the fourth quarter. First Trust Advisors LP now owns 264,553 shares of the technology company’s stock worth $7,677,000 after purchasing an additional 75,621 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Iridium Communications by 25.6% during the fourth quarter. Marshall Wace LLP now owns 12,576 shares of the technology company’s stock worth $365,000 after purchasing an additional 2,565 shares during the last quarter. Finally, Jump Financial LLC increased its stake in shares of Iridium Communications by 53.2% in the fourth quarter. Jump Financial LLC now owns 107,000 shares of the technology company’s stock valued at $3,105,000 after buying an additional 37,160 shares in the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BWS Financial decreased 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. StockNews.com lowered shares of Iridium Communications from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Cantor Fitzgerald started coverage on Iridium Communications in a report on Friday, January 24th. They set an “overweight” rating and a $40.00 price objective on the stock. Barclays decreased their price objective on Iridium Communications from $45.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, William Blair raised Iridium Communications from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Iridium Communications has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.

Iridium Communications Stock Performance

Shares of Iridium Communications stock opened at $23.16 on Monday. The firm has a fifty day moving average of $27.20 and a two-hundred day moving average of $28.67. 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 stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.28 and a beta of 0.66. Iridium Communications Inc. has a 52 week low of $19.91 and a 52 week high of $35.85.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings data on Tuesday, April 22nd. The technology company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The business had revenue of $214.88 million during the quarter, compared to the consensus estimate of $211.78 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, equities research analysts predict that Iridium Communications Inc. will post 0.89 EPS for the current year.

Iridium Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.14 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.56 annualized dividend and a yield of 2.42%. Iridium Communications’s dividend payout ratio is currently 52.83%.

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.