A number of other brokerages have also commented on IRDM. Barclays reiterated a buy rating and issued a $32.00 price objective on shares of Iridium Communications in a research report on Thursday, October 31st. ValuEngine upgraded Iridium Communications from a buy rating to a strong-buy rating in a research report on Monday, November 25th. BWS Financial set a $33.00 price objective on Iridium Communications and gave the stock a buy rating in a research report on Tuesday, September 17th. Sidoti upgraded Iridium Communications from a neutral rating to a buy rating and set a $26.00 price objective for the company in a research report on Wednesday, October 9th. Finally, Zacks Investment Research lowered Iridium Communications from a hold rating to a sell rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $27.17.
Shares of IRDM stock opened at $23.30 on Thursday. The stock has a 50-day moving average price of $24.35 and a 200 day moving average price of $23.62. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 1.05. Iridium Communications has a 12 month low of $16.64 and a 12 month high of $28.24.
In other news, VP Timothy Kapalka sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $25.80, for a total transaction of $645,000.00. Following the completion of the transaction, the vice president now directly owns 47,138 shares in the company, valued at approximately $1,216,160.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bryan J. Hartin sold 112,816 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $25.37, for a total value of $2,862,141.92. Following the transaction, the executive vice president now owns 146,733 shares of the company’s stock, valued at $3,722,616.21. The disclosure for this sale can be found here. Insiders have sold a total of 146,677 shares of company stock valued at $3,724,059 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Executive Wealth Management LLC grew its position in shares of Iridium Communications by 378.7% during the 2nd quarter. Executive Wealth Management LLC now owns 1,795 shares of the technology company’s stock worth $42,000 after buying an additional 1,420 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Iridium Communications during the 2nd quarter worth about $43,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Iridium Communications in the 3rd quarter valued at approximately $55,000. Strs Ohio grew its position in shares of Iridium Communications by 42.9% in the 2nd quarter. Strs Ohio now owns 3,000 shares of the technology company’s stock valued at $69,000 after purchasing an additional 900 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Iridium Communications in the 2nd quarter valued at approximately $103,000. Institutional investors own 77.89% of the company’s stock.
Iridium Communications Company Profile
Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.
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