Skylands Capital LLC Sells 52,700 Shares of Iridium Communications Inc $IRDM

Key Points

• Skylands Capital LLC trimmed its stake by 66.3%, selling 52,700 shares of Iridium in Q4 and retaining 26,800 shares valued at $466,000; institutional investors own 84.36% of the stock.
• Iridium missed quarterly EPS estimates (reported $0.20 vs. $0.27 expected) while posting $219.06M in revenue (+2.0% year-over-year); the company has a $3.95B market cap and a 52‑week range of $15.65–$44.36.
• Chief Accounting Officer Timothy Kapalka sold 3,790 shares under a pre-arranged 10b5‑1 plan (a 7.35% reduction), Iridium pays a $0.15 quarterly dividend (1.6% yield, DPR ~60.6%), and analysts' consensus rating is "Hold" with a $27.60 target.

Skylands Capital LLC trimmed its stake in Iridium Communications Inc (NASDAQ:IRDM - Free Report) by 66.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,800 shares of the technology company's stock after selling 52,700 shares during the quarter. Skylands Capital LLC's holdings in Iridium Communications were worth $466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its position in shares of Iridium Communications by 184.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,506 shares of the technology company's stock worth $26,000 after purchasing an additional 977 shares in the last quarter. Larson Financial Group LLC increased its position in Iridium Communications by 392.8% in 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 in the last quarter. CIBC Private Wealth Group LLC acquired a new position in Iridium Communications during the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd acquired a new position in Iridium Communications during the 3rd quarter worth approximately $46,000. Finally, Advisory Services Network LLC bought a new position in Iridium Communications in the third quarter worth approximately $48,000. 84.36% of the stock is owned by institutional investors.

Insider Transactions at Iridium Communications

In other news, CAO Timothy Kapalka sold 3,790 shares of the company's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $31.00, for a total value of $117,490.00. Following the completion of the sale, the chief accounting officer owned 47,764 shares in the company, valued at $1,480,684. This represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.70% of the stock is owned by corporate insiders.

Iridium Communications Stock Performance

Shares of IRDM opened at $37.35 on Wednesday. The firm has a market capitalization of $3.95 billion, a P/E ratio of 37.73, a P/E/G ratio of 2.51 and a beta of 0.48. Iridium Communications Inc has a 52 week low of $15.65 and a 52 week high of $44.36. The stock has a 50 day moving average price of $29.83 and a two-hundred day moving average price of $22.42. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.21 and a current ratio of 2.85.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its earnings results on Thursday, April 23rd. The technology company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.07). The company had revenue of $219.06 million during the quarter, compared to the consensus estimate of $218.39 million. Iridium Communications had a net margin of 12.05% and a return on equity of 22.76%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Equities analysts forecast that Iridium Communications Inc will post 1.06 earnings per share for the current fiscal year.

Iridium Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 16th. This represents a $0.60 annualized dividend and a yield of 1.6%. Iridium Communications's dividend payout ratio (DPR) is 60.61%.

Wall Street Analyst Weigh In

IRDM has been the subject of a number of research reports. Morgan Stanley raised their price objective on Iridium Communications from $24.00 to $26.00 and gave the company 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 report on Tuesday, March 10th. Barclays lifted their price target on shares of Iridium Communications from $25.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. BWS Financial restated a "sell" rating and set a $16.00 price target on shares of Iridium Communications in a research note on Monday. Finally, Raymond James Financial restated a "market perform" rating on shares of Iridium Communications in a research note on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Iridium Communications currently has an average rating of "Hold" and a consensus target price of $27.60.

Iridium Communications 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.

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