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

Iridium Communications Inc (NASDAQ:IRDM) CAO Timothy Kapalka sold 3,790 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $31.00, for a total value of $117,490.00. Following the transaction, the chief accounting officer directly owned 47,764 shares of the company’s stock, valued at $1,480,684. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $33.00, for a total value of $67,419.00.

Iridium Communications Price Performance

Iridium Communications stock traded down $0.07 during midday trading on Monday, reaching $32.79. The company’s stock had a trading volume of 2,123,243 shares, compared to its average volume of 2,251,101. Iridium Communications Inc has a 52 week low of $15.65 and a 52 week high of $33.90. The company has a current ratio of 2.48, a quick ratio of 1.82 and a debt-to-equity ratio of 3.80. The business has a 50-day moving average price of $24.02 and a 200-day moving average price of $20.09. The stock has a market cap of $3.44 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.22 and a beta of 0.48.

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

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.60 annualized dividend and a yield of 1.8%. Iridium Communications’s dividend payout ratio is presently 56.60%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Iridium Communications

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its position in Iridium Communications by 63.7% in the 4th quarter. Hsbc Holdings PLC now owns 44,358 shares of the technology company’s stock valued at $772,000 after acquiring an additional 17,267 shares during the period. Invesco Ltd. lifted its holdings in shares of Iridium Communications by 12.0% during the fourth quarter. Invesco Ltd. now owns 994,205 shares of the technology company’s stock worth $17,279,000 after purchasing an additional 106,856 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Iridium Communications in the fourth quarter worth $193,000. State of Tennessee Department of Treasury grew its stake in shares of 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 worth $846,000 after purchasing an additional 15,752 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings 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 purchasing an additional 478 shares during the period. 84.36% of the stock is currently owned by institutional investors and hedge funds.

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.