Iridium Communications Inc (IRDM) COO Sells $67,095.00 in Stock

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Iridium Communications Inc (NASDAQ:IRDM) COO S. Scott Smith sold 3,500 shares of the business’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $19.17, for a total transaction of $67,095.00. Following the sale, the chief operating officer now directly owns 219,967 shares of the company’s stock, valued at approximately $4,216,767.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

  • On Tuesday, December 31st, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $18.81, for a total transaction of $65,835.00.
  • On Monday, December 31st, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $18.81, for a total transaction of $65,835.00.
  • On Monday, December 24th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $17.02, for a total transaction of $59,570.00.
  • On Monday, December 17th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $19.64, for a total transaction of $68,740.00.
  • On Monday, December 3rd, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $24.08, for a total transaction of $84,280.00.
  • On Monday, November 26th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $22.61, for a total transaction of $79,135.00.
  • On Monday, November 19th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $21.51, for a total transaction of $75,285.00.
  • On Monday, November 12th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $20.45, for a total transaction of $71,575.00.
  • On Monday, November 5th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $20.67, for a total transaction of $72,345.00.
  • On Monday, October 29th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $18.96, for a total transaction of $66,360.00.

Shares of Iridium Communications stock opened at $19.76 on Friday. The firm has a market capitalization of $2.20 billion, a P/E ratio of 28.23 and a beta of 2.15. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 1.16. Iridium Communications Inc has a fifty-two week low of $10.75 and a fifty-two week high of $24.35.

Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Thursday, October 25th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The firm had revenue of $136.76 million during the quarter, compared to the consensus estimate of $128.32 million. Iridium Communications had a return on equity of 1.01% and a net margin of 26.88%. On average, sell-side analysts forecast that Iridium Communications Inc will post -0.2 EPS for the current year.

A number of brokerages have recently issued reports on IRDM. Raymond James boosted their price objective on shares of Iridium Communications from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Zacks Investment Research downgraded shares of Iridium Communications from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 27th. BidaskClub raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 27th. Finally, Barclays started coverage on shares of Iridium Communications in a report on Tuesday, October 30th. They issued an “overweight” rating and a $26.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Iridium Communications currently has a consensus rating of “Buy” and an average target price of $21.35.

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in Iridium Communications by 67.5% in the 3rd quarter. Renaissance Technologies LLC now owns 1,739,900 shares of the technology company’s stock worth $39,148,000 after buying an additional 701,300 shares during the period. Bank of Montreal Can lifted its stake in Iridium Communications by 43.1% in the 3rd quarter. Bank of Montreal Can now owns 284,350 shares of the technology company’s stock worth $6,398,000 after purchasing an additional 85,599 shares in the last quarter. Swiss National Bank lifted its stake in Iridium Communications by 13.5% in the 3rd quarter. Swiss National Bank now owns 163,600 shares of the technology company’s stock worth $3,681,000 after purchasing an additional 19,500 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Iridium Communications by 22,156.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 96,815 shares of the technology company’s stock worth $2,178,000 after purchasing an additional 96,380 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Iridium Communications by 12.6% in the 3rd quarter. BlackRock Inc. now owns 14,029,610 shares of the technology company’s stock worth $315,666,000 after purchasing an additional 1,568,048 shares in the last quarter. 86.02% of the stock is owned by institutional investors.

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About Iridium Communications

Iridium Communications, Inc is a mobile voice and data satellite communications network. Its satellite network provides communication where terrestrial wireless or wireline networks do not exist or are limited. The company’s current principal lines of business include Land Mobile, Maritime, Aviation, and Government.

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