Iridium Communications Inc (IRDM) Director A B. Krongard Acquires 45,750 Shares of Stock

Iridium Communications Inc (NASDAQ:IRDM) Director A B. Krongard purchased 45,750 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $10.89 per share, with a total value of $498,217.50. Following the completion of the purchase, the director now owns 149,788 shares of the company’s stock, valued at approximately $1,631,191.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Iridium Communications Inc (IRDM) opened at $11.00 on Tuesday. The stock has a market capitalization of $1,072.78, a P/E ratio of 11.90, a PEG ratio of 2.63 and a beta of 1.78. Iridium Communications Inc has a one year low of $7.80 and a one year high of $12.90. The company has a quick ratio of 2.67, a current ratio of 2.78 and a debt-to-equity ratio of 1.17.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $116.55 million during the quarter, compared to analyst estimates of $113.96 million. Iridium Communications had a return on equity of 8.31% and a net margin of 26.38%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.26 EPS. sell-side analysts predict that Iridium Communications Inc will post 0.83 earnings per share for the current fiscal year.

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A number of equities analysts recently commented on the company. TheStreet raised Iridium Communications from a “c+” rating to a “b” rating in a research note on Friday, October 27th. Zacks Investment Research lowered Iridium Communications from a “hold” rating to a “sell” rating in a research note on Saturday, October 28th. Wells Fargo & Company increased their price target on Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. ValuEngine raised Iridium Communications from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Drexel Hamilton reissued a “buy” rating and set a $14.00 price target on shares of Iridium Communications in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Iridium Communications has a consensus rating of “Buy” and a consensus price target of $12.33.

Large investors have recently bought and sold shares of the company. Flinton Capital Management LLC lifted its stake in shares of Iridium Communications by 80.6% in the 2nd quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock valued at $101,000 after purchasing an additional 4,060 shares during the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Iridium Communications in the 2nd quarter valued at approximately $102,000. PNC Financial Services Group Inc. lifted its stake in shares of Iridium Communications by 15.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock valued at $109,000 after purchasing an additional 1,303 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Iridium Communications in the 2nd quarter valued at approximately $116,000. Finally, QS Investors LLC lifted its stake in shares of Iridium Communications by 23,091.5% in the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock valued at $120,000 after purchasing an additional 10,853 shares during the last quarter.

About Iridium Communications

Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.

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