Iridium Communications Inc. (NASDAQ:IRDM – Get Rating) Director Barry West sold 4,564 shares of Iridium Communications stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $60.50, for a total transaction of $276,122.00. Following the transaction, the director now directly owns 52,455 shares in the company, valued at $3,173,527.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Barry West also recently made the following trade(s):
- On Wednesday, February 22nd, Barry West sold 10,900 shares of Iridium Communications stock. The shares were sold at an average price of $62.88, for a total transaction of $685,392.00.
Iridium Communications Trading Up 4.5 %
NASDAQ IRDM opened at $61.99 on Wednesday. The company’s fifty day simple moving average is $59.75 and its 200-day simple moving average is $52.56. Iridium Communications Inc. has a 52 week low of $32.88 and a 52 week high of $65.41. The company has a current ratio of 2.16, a quick ratio of 1.88 and a debt-to-equity ratio of 1.30. The stock has a market cap of $7.81 billion, a P/E ratio of 849.69 and a beta of 1.11.
Analyst Ratings Changes
IRDM has been the topic of a number of recent research reports. Raymond James lifted their price target on shares of Iridium Communications from $60.00 to $71.00 and gave the company a “strong-buy” rating in a research report on Friday, February 17th. BWS Financial lifted their price target on shares of Iridium Communications from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 9th. Finally, StockNews.com cut shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Friday, February 17th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.75.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in IRDM. Norges Bank acquired a new stake in Iridium Communications in the fourth quarter valued at $59,062,000. State Street Corp raised its holdings in Iridium Communications by 13.5% in the first quarter. State Street Corp now owns 4,733,034 shares of the technology company’s stock valued at $190,836,000 after acquiring an additional 564,367 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Iridium Communications by 1,200.8% in the fourth quarter. Macquarie Group Ltd. now owns 526,699 shares of the technology company’s stock valued at $27,072,000 after acquiring an additional 486,209 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Iridium Communications by 174.7% in the first quarter. Renaissance Technologies LLC now owns 688,699 shares of the technology company’s stock valued at $27,768,000 after acquiring an additional 438,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Iridium Communications by 27.1% in the second quarter. Goldman Sachs Group Inc. now owns 2,025,586 shares of the technology company’s stock valued at $76,081,000 after acquiring an additional 431,792 shares in the last quarter. 83.82% of the stock is owned by institutional investors and hedge funds.
About Iridium Communications
Iridium Communications, Inc engages in the provision of global satellite communications services and products. Its products include personal communicators, messengers, and trackers, satellite phones, push-to-talk-devices, broadband, midband, and external terminals, docking stations, apps, and accessories.
- Get a free copy of the StockNews.com research report on Iridium Communications (IRDM)
- Monoclonal Antibodies? Avid Bioservices surges 32% on Blowout Q3
- GitLab Crashes On Guidance; Analysts Defend
- Healthcare Stocks With at Least 30 Years of Dividend Increases
- Coinbase Pops As SVB Crumbles To Dust
- Airlines Update Guidance, Shares Head For Different Destinations
Receive News & Ratings for Iridium Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iridium Communications and related companies with MarketBeat.com's FREE daily email newsletter.