Iridium Communications (NASDAQ:IRDM) CAO Timothy Kapalka Sells 3,790 Shares

Iridium Communications Inc (NASDAQ:IRDM) CAO Timothy Kapalka sold 3,790 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $31.00, for a total value of $117,490.00. Following the completion of the sale, the chief accounting officer owned 47,764 shares in the company, valued at $1,480,684. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Timothy Kapalka also recently made the following trade(s):

• On Monday, April 6th, Timothy Kapalka sold 2,043 shares of Iridium Communications stock. The stock was sold at an average price of $33.00, for a total value of $67,419.00.

Iridium Communications Trading Down 0.2%

Shares of Iridium Communications stock traded down $0.07 during midday trading on Monday, reaching $32.79. The company had a trading volume of 2,123,243 shares, compared to its average volume of 2,251,101. The stock has a fifty day moving average price of $24.02 and a 200 day moving average price of $20.09. Iridium Communications Inc has a fifty-two week low of $15.65 and a fifty-two week high of $33.90. The firm has a market cap of $3.44 billion, a PE ratio of 30.93, a P/E/G ratio of 2.22 and a beta of 0.48. The company has a debt-to-equity ratio of 3.80, a current ratio of 2.48 and a quick ratio of 1.82.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $212.94 million during the quarter, compared to analyst estimates of $219.14 million. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. On average, equities analysts anticipate that Iridium Communications Inc will post 0.89 earnings per share for the current year.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, March 16th. Iridium Communications’s dividend payout ratio (DPR) is currently 56.60%.

Institutional Investors Weigh In On Iridium Communications

A number of large investors have recently bought and sold shares of the stock. Quantinno Capital Management LP raised its holdings in shares of Iridium Communications by 3.1% during the second quarter. Quantinno Capital Management LP now owns 15,199 shares of the technology company’s stock valued at $459,000 after purchasing an additional 461 shares during the period. Empowered Funds LLC grew its stake in shares of Iridium Communications by 4.4% in the 4th quarter. Empowered Funds LLC now owns 11,350 shares of the technology company’s stock valued at $197,000 after buying an additional 478 shares during the period. Allworth Financial LP increased its position in Iridium Communications by 11.2% in the 4th quarter. Allworth Financial LP now owns 5,677 shares of the technology company’s stock valued at $99,000 after buying an additional 572 shares in the last quarter. Quadrant Capital Group LLC increased its position in Iridium Communications by 107.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock valued at $25,000 after buying an additional 741 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Iridium Communications by 36.2% during the third quarter. Jones Financial Companies Lllp now owns 3,053 shares of the technology company’s stock valued at $54,000 after acquiring an additional 812 shares in the last quarter. 84.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on IRDM shares. BWS Financial reaffirmed a “sell” rating and set a $16.00 price target on shares of Iridium Communications in a research report on Tuesday, February 17th. Weiss Ratings raised Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 10th. Finally, Morgan Stanley upped their target price on Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 18th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.40.

Iridium Communications Company Profile

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.