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

Iridium Communications Inc (NASDAQ:IRDM) CAO Timothy Kapalka sold 3,790 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $31.00, for a total transaction of $117,490.00. Following the completion of the sale, the chief accounting officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 transaction of $67,419.00.

Iridium Communications Stock Down 0.2%

Shares of NASDAQ IRDM opened at $32.79 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 2.48 and a debt-to-equity ratio of 3.80. Iridium Communications Inc has a 52 week low of $15.65 and a 52 week high of $33.90. The firm has a 50-day moving average price of $24.26 and a 200 day moving average price of $20.18. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.22 and a beta of 0.48.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, February 12th. The technology company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $212.94 million during the quarter, compared to analysts’ expectations of $219.14 million. Iridium Communications had a net margin of 13.12% and a return on equity of 24.01%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. Equities research analysts anticipate that Iridium Communications Inc will post 0.89 EPS for the current fiscal year.

Iridium Communications Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Iridium Communications

A number of large investors have recently added to or reduced their stakes in IRDM. Quadrant Capital Group LLC grew its holdings in Iridium Communications by 107.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock valued at $25,000 after buying an additional 741 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Iridium Communications by 184.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company’s stock valued at $26,000 after buying an additional 977 shares during the last quarter. Larson Financial Group LLC grew its holdings in Iridium Communications by 392.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after buying an additional 1,202 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Iridium Communications during the 4th quarter valued at $27,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Iridium Communications during the 3rd quarter valued at $32,000. 84.36% of the stock is owned by institutional investors and hedge funds.

About Iridium Communications

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.