Today, a Director at Iridium Communications (NASDAQ: IRDM), Thomas Canfield, sold shares of IRDM for $241.3K.
Following Thomas Canfield’s last IRDM Sell transaction on March 07, 2017, the stock climbed by 12.0%. This is Canfield’s first Sell trade following 8 Buy transactions.
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Based on Iridium Communications’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $135 million and GAAP net loss of $4.41 million. In comparison, last year the company earned revenue of $112 million and had a net profit of $24.78 million. IRDM’s market cap is $2.23B and the company has a P/E ratio of 15.04. Currently, Iridium Communications has an average volume of 1.02M.
Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $18.58, reflecting a 7.9% upside.
The insider sentiment on Iridium Communications has been negative according to 47 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
Thomas Canfield’s trades have generated a 4.2% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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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.
