Iridium Communications (NASDAQ:IRDM) CAO Timothy Kapalka Sells 2,043 Shares of Stock

Iridium Communications Inc (NASDAQ:IRDM) CAO Timothy Kapalka sold 2,043 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $33.00, for a total value of $67,419.00. Following the completion of the transaction, the chief accounting officer owned 45,721 shares of the company’s stock, valued at $1,508,793. The trade was a 4.28% decrease in their ownership of the stock. The sale 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 Thursday, April 2nd, Timothy Kapalka sold 3,790 shares of Iridium Communications stock. The shares were sold at an average price of $31.00, for a total value of $117,490.00.

Iridium Communications Stock Performance

Shares of NASDAQ IRDM opened at $32.79 on Tuesday. The business has a fifty day simple moving average of $24.26 and a 200 day simple moving average of $20.18. 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 firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 2.22 and a beta of 0.48. Iridium Communications Inc has a one year low of $15.65 and a one year high of $33.90.

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

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis 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%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings upgraded Iridium Communications from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 10th. Morgan Stanley upped their price target on Iridium Communications from $24.00 to $26.00 and gave the company an “equal weight” rating in a research 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 research report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Iridium Communications presently has an average rating of “Hold” and a consensus target price of $25.40.

Institutional Trading of Iridium Communications

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Iridium Communications by 7.1% in the fourth quarter. Vanguard Group Inc. now owns 10,157,227 shares of the technology company’s stock valued at $176,533,000 after acquiring an additional 677,258 shares during the period. ARK Investment Management LLC grew its position in Iridium Communications by 21.7% in the third quarter. ARK Investment Management LLC now owns 6,490,108 shares of the technology company’s stock valued at $113,317,000 after acquiring an additional 1,156,580 shares during the period. Silver Heights Capital Management Inc grew its position in Iridium Communications by 1.2% in the fourth quarter. Silver Heights Capital Management Inc now owns 5,251,133 shares of the technology company’s stock valued at $91,265,000 after acquiring an additional 61,430 shares during the period. State Street Corp grew its position in Iridium Communications by 18.0% in the fourth quarter. State Street Corp now owns 4,761,749 shares of the technology company’s stock valued at $82,759,000 after acquiring an additional 725,856 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Iridium Communications by 0.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,343,670 shares of the technology company’s stock worth $75,840,000 after purchasing an additional 27,907 shares during the last quarter. 84.36% of the stock is currently owned by institutional investors.

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.