Iridium Communications Inc (NASDAQ:IRDM) COO S. Scott Smith sold 3,500 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $19.90, for a total transaction of $69,650.00. Following the transaction, the chief operating officer now directly owns 221,034 shares in the company, valued at approximately $4,398,576.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

S. Scott Smith also recently made the following trade(s):

  • On Monday, September 17th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $20.06, for a total transaction of $70,210.00.
  • On Monday, September 10th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $20.10, for a total transaction of $70,350.00.
  • On Monday, August 20th, S. Scott Smith sold 27,761 shares of Iridium Communications stock. The shares were sold at an average price of $20.55, for a total transaction of $570,488.55.

NASDAQ:IRDM opened at $20.45 on Thursday. Iridium Communications Inc has a fifty-two week low of $9.95 and a fifty-two week high of $21.55. The stock has a market capitalization of $2.34 billion, a PE ratio of 29.21 and a beta of 1.84. The company has a current ratio of 2.18, a quick ratio of 2.09 and a debt-to-equity ratio of 1.20.

Iridium Communications (NASDAQ:IRDM) last released its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Iridium Communications had a net margin of 36.66% and a return on equity of 3.72%. The business had revenue of $134.93 million for the quarter, compared to analysts’ expectations of $120.54 million. During the same period last year, the business earned $0.20 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. equities research analysts forecast that Iridium Communications Inc will post -0.14 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Iridium Communications by 8.3% during the 2nd quarter. BlackRock Inc. now owns 12,461,562 shares of the technology company’s stock valued at $200,630,000 after acquiring an additional 949,870 shares during the period. Dimensional Fund Advisors LP lifted its stake in Iridium Communications by 15.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,525,448 shares of the technology company’s stock valued at $72,860,000 after acquiring an additional 594,513 shares during the period. Northern Trust Corp lifted its stake in Iridium Communications by 5.6% during the 2nd quarter. Northern Trust Corp now owns 2,373,109 shares of the technology company’s stock valued at $38,207,000 after acquiring an additional 126,312 shares during the period. Bank of New York Mellon Corp lifted its stake in Iridium Communications by 5.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,936,957 shares of the technology company’s stock valued at $31,184,000 after acquiring an additional 100,238 shares during the period. Finally, Royce & Associates LP lifted its stake in Iridium Communications by 0.8% during the 2nd quarter. Royce & Associates LP now owns 1,350,843 shares of the technology company’s stock valued at $21,749,000 after acquiring an additional 11,000 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

IRDM has been the topic of a number of research reports. Zacks Investment Research raised shares of Iridium Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Friday, August 3rd. BidaskClub upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. Northland Securities restated a “hold” rating and issued a $14.75 price target on shares of Iridium Communications in a report on Wednesday, August 1st. ValuEngine upgraded shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 31st. Finally, Sidoti restated a “neutral” rating on shares of Iridium Communications in a report on Monday, August 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Iridium Communications currently has a consensus rating of “Buy” and an average price target of $17.44.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.

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