Iridium Communications Inc (NASDAQ:IRDM) COO S. Scott Smith sold 3,500 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $20.10, for a total transaction of $70,350.00. Following the sale, the chief operating officer now directly owns 221,034 shares of the company’s stock, valued at approximately $4,442,783.40. The sale was disclosed in a filing with the SEC, which is available at this link.
S. Scott Smith also recently made the following trade(s):
- 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 traded up $0.15 during trading hours on Wednesday, hitting $20.35. 740,500 shares of the company’s stock traded hands, compared to its average volume of 981,683. Iridium Communications Inc has a 52-week low of $9.73 and a 52-week high of $21.55. The stock has a market cap of $2.38 billion, a PE ratio of 29.07 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 posted its earnings results on Tuesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $134.93 million for the quarter, compared to analyst estimates of $120.54 million. Iridium Communications had a net margin of 36.66% and a return on equity of 3.72%. Iridium Communications’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. sell-side analysts forecast that Iridium Communications Inc will post -0.14 EPS for the current fiscal year.
Several brokerages recently issued reports on IRDM. Northland Securities cut shares of Iridium Communications from a “market perform” rating to an “under perform” rating in a research note on Monday. Sidoti reaffirmed a “neutral” rating on shares of Iridium Communications in a research note on Monday, August 27th. BidaskClub raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Zacks Investment Research cut shares of Iridium Communications from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 4th. Finally, ValuEngine raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Iridium Communications presently has a consensus rating of “Buy” and a consensus target price of $17.44.
A number of large investors have recently bought and sold shares of IRDM. Millennium Management LLC acquired a new position in Iridium Communications in the 4th quarter valued at about $432,000. Wells Fargo & Company MN boosted its holdings in Iridium Communications by 143.8% in the 1st quarter. Wells Fargo & Company MN now owns 838,345 shares of the technology company’s stock valued at $9,432,000 after purchasing an additional 494,515 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Iridium Communications by 137.4% in the 1st quarter. SG Americas Securities LLC now owns 113,766 shares of the technology company’s stock valued at $1,280,000 after purchasing an additional 65,835 shares during the last quarter. Chicago Equity Partners LLC boosted its holdings in Iridium Communications by 25.2% in the 1st quarter. Chicago Equity Partners LLC now owns 147,390 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 29,700 shares during the last quarter. Finally, Forsta AP Fonden acquired a new position in Iridium Communications in the 1st quarter valued at about $433,000. Institutional investors own 86.24% of the company’s stock.
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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