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

Key Points

• Timothy Kapalka, Iridium's chief accounting officer, sold 2,043 shares on April 6 at an average price of $33 under a pre-arranged Rule 10b5-1 plan, leaving him with 45,721 shares (a 4.28% reduction in his ownership).
• Kapalka also sold 3,790 shares on April 2 at $31, meaning his two recent insider sales totaled 5,833 shares for approximately $184,909.
• Iridium (IRDM) is trading near its 52-week high (~$32.79 vs. $33.90), has a $3.44 billion market cap and a 1.8% dividend yield, while analysts hold a consensus "Hold" rating with a $25.40 price target.

Iridium Communications Inc (NASDAQ:IRDM - Get Free Report) CAO Timothy Kapalka sold 2,043 shares of Iridium Communications stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $33.00, for a total transaction of $67,419.00. Following the completion of the transaction, the chief accounting officer directly owned 45,721 shares of the company's stock, valued at $1,508,793. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 stock was sold at an average price of $31.00, for a total transaction of $117,490.00.

Iridium Communications Stock Performance

NASDAQ IRDM traded down $0.07 during trading hours 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. 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 simple moving average of $24.02 and a 200 day simple moving average of $20.09. Iridium Communications Inc has a 52 week low of $15.65 and a 52 week high of $33.90. The stock has a market cap of $3.44 billion, a PE ratio of 30.93, a PEG ratio of 2.22 and a beta of 0.48.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its earnings results 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 company 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%.The business's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. Equities research analysts predict that Iridium Communications Inc will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Dividend Announcement

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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, March 16th. Iridium Communications's dividend payout ratio is presently 56.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Iridium Communications from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, March 10th. BWS Financial reaffirmed a "sell" rating and issued a $16.00 price objective on shares of Iridium Communications in a report on Tuesday, February 17th. Finally, Morgan Stanley lifted their price objective on shares of Iridium Communications from $24.00 to $26.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 18th. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.40.

Institutional Trading of Iridium Communications

Hedge funds have recently added to or reduced their stakes in the business. Synergy Asset Management LLC lifted its stake in shares of Iridium Communications by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,324,366 shares of the technology company's stock worth $23,123,000 after acquiring an additional 662,183 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Iridium Communications by 2,459.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 345,226 shares of the technology company's stock valued at $6,028,000 after acquiring an additional 331,738 shares during the period. Oak Thistle LLC bought a new stake in Iridium Communications during the third quarter worth approximately $1,074,000. Citigroup Inc. lifted its position in Iridium Communications by 323.8% in the third quarter. Citigroup Inc. now owns 310,797 shares of the technology company's stock worth $5,427,000 after purchasing an additional 237,456 shares during the period. Finally, Silver Heights Capital Management Inc lifted its position in Iridium Communications by 22.7% in the third quarter. Silver Heights Capital Management Inc now owns 5,189,703 shares of the technology company's stock worth $90,612,000 after purchasing an additional 961,440 shares during the period. Institutional investors own 84.36% of the company's stock.

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.

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