S. Scott Smith Sells 3,500 Shares of Iridium Communications Inc (IRDM) Stock

Iridium Communications Inc (NASDAQ:IRDM) COO S. Scott Smith sold 3,500 shares of Iridium Communications stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $19.17, for a total value of $67,095.00. Following the sale, the chief operating officer now directly owns 219,967 shares in the company, valued at $4,216,767.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

S. Scott Smith also recently made the following trade(s):

  • On Tuesday, December 31st, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $18.81, for a total value of $65,835.00.
  • On Monday, December 31st, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $18.81, for a total value of $65,835.00.
  • On Monday, December 24th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $17.02, for a total value of $59,570.00.
  • On Monday, December 17th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $19.64, for a total value of $68,740.00.
  • On Monday, December 3rd, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $24.08, for a total transaction of $84,280.00.
  • On Monday, November 26th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $22.61, for a total transaction of $79,135.00.
  • On Monday, November 19th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $21.51, for a total transaction of $75,285.00.
  • On Monday, November 12th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $20.45, for a total transaction of $71,575.00.
  • On Monday, November 5th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $20.67, for a total transaction of $72,345.00.
  • On Monday, October 29th, S. Scott Smith sold 3,500 shares of Iridium Communications stock. The shares were sold at an average price of $18.96, for a total transaction of $66,360.00.

IRDM stock opened at $19.76 on Friday. Iridium Communications Inc has a 52-week low of $10.75 and a 52-week high of $24.35. The company has a market cap of $2.20 billion, a PE ratio of 28.23 and a beta of 2.15. The company has a quick ratio of 1.46, a current ratio of 1.53 and a debt-to-equity ratio of 1.16.



Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, October 25th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). Iridium Communications had a return on equity of 1.01% and a net margin of 26.88%. The firm had revenue of $136.76 million during the quarter, compared to analysts’ expectations of $128.32 million. Sell-side analysts predict that Iridium Communications Inc will post -0.2 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sawtooth Solutions LLC purchased a new position in Iridium Communications in the 3rd quarter worth approximately $219,000. Cambridge Investment Research Advisors Inc. purchased a new position in Iridium Communications in the 3rd quarter worth approximately $219,000. Jane Street Group LLC purchased a new position in Iridium Communications in the 2nd quarter worth approximately $172,000. Allianz Asset Management GmbH purchased a new position in Iridium Communications in the 3rd quarter worth approximately $250,000. Finally, Private Wealth Partners LLC purchased a new position in Iridium Communications in the 3rd quarter worth approximately $270,000. Institutional investors own 86.02% of the company’s stock.

Several equities analysts have recently issued reports on IRDM shares. BidaskClub lowered shares of Iridium Communications from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Barclays started coverage on shares of Iridium Communications in a report on Tuesday, October 30th. They set an “overweight” rating and a $26.00 target price for the company. Raymond James upgraded shares of Iridium Communications to a “strong-buy” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research lowered shares of Iridium Communications from a “hold” rating to a “strong sell” rating in a report on Saturday, October 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Iridium Communications presently has an average rating of “Buy” and an average price target of $21.35.

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Iridium Communications Company Profile

Iridium Communications, Inc is a mobile voice and data satellite communications network. Its satellite network provides communication where terrestrial wireless or wireline networks do not exist or are limited. The company’s current principal lines of business include Land Mobile, Maritime, Aviation, and Government.

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