Iridium Communications Inc (NASDAQ:IRDM - Get Free Report) CAO Timothy Kapalka sold 2,043 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $33.00, for a total value of $67,419.00. Following the sale, the chief accounting officer owned 45,721 shares in the company, valued at $1,508,793. The trade was a 4.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Timothy Kapalka also recently made the following trade(s):
- On Thursday, April 2nd, Timothy Kapalka sold 3,790 shares of Iridium Communications stock. The stock was sold at an average price of $31.00, for a total value of $117,490.00.
Iridium Communications Price Performance
Shares of IRDM stock opened at $32.79 on Tuesday. The stock's fifty day moving average is $24.26 and its 200-day moving average is $20.18. The company has a debt-to-equity ratio of 3.80, a quick ratio of 1.82 and a current ratio of 2.48. The stock has a market capitalization of $3.44 billion, a PE ratio of 30.93, a PEG ratio of 2.22 and a beta of 0.48. Iridium Communications Inc has a 52 week low of $15.65 and a 52 week high of $33.90.
Iridium Communications (NASDAQ:IRDM - Get Free Report) last announced its earnings results on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $212.94 million for the quarter, compared to analysts' expectations of $219.14 million. Iridium Communications had a return on equity of 24.01% and a net margin of 13.12%.The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts expect that Iridium Communications Inc will post 0.89 EPS for the current fiscal year.
Iridium Communications Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, March 16th. Iridium Communications's dividend payout ratio is presently 56.60%.
Hedge Funds Weigh In On Iridium Communications
Several hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Iridium Communications by 63.7% in the fourth quarter. Hsbc Holdings PLC now owns 44,358 shares of the technology company's stock valued at $772,000 after buying an additional 17,267 shares during the period. Invesco Ltd. lifted its stake in Iridium Communications by 12.0% in the fourth quarter. Invesco Ltd. now owns 994,205 shares of the technology company's stock valued at $17,279,000 after buying an additional 106,856 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Iridium Communications in the fourth quarter valued at about $193,000. State of Tennessee Department of Treasury lifted its stake in Iridium Communications by 47.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 48,695 shares of the technology company's stock valued at $846,000 after buying an additional 15,752 shares during the period. Finally, Empowered Funds LLC lifted its stake in Iridium Communications by 4.4% in the fourth 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. Institutional investors own 84.36% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on IRDM shares. Weiss Ratings upgraded Iridium Communications from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, March 10th. Morgan Stanley raised their price target on Iridium Communications from $24.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 18th. Finally, BWS Financial reiterated a "sell" rating and issued a $16.00 price target on shares of Iridium Communications in a report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Iridium Communications has a consensus rating of "Hold" and a consensus price target of $25.40.
Check Out Our Latest Stock Analysis on Iridium Communications
About Iridium Communications
(
Get Free Report)
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.
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