Today it was reported that the Chief Legal Officer, Secretary of Iridium Communications (IRDM), Thomas D. Hickey, exercised options to sell 83,511 IRDM shares at $7.78 a share, for a total transaction value of $2.26M.
Following Thomas D. Hickey’s last IRDM Sell transaction on August 07, 2018, the stock climbed by 7.0%. In addition to Thomas D. Hickey, one other IRDM executive reported Sell trades in the last month.
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Based on Iridium Communications’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $134 million and GAAP net loss of $18.02 million. In comparison, last year the company earned revenue of $119 million and had a net profit of $11.46 million. Currently, Iridium Communications has an average volume of 1.21M.
Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $22.67, reflecting a -17.4% downside.
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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 principal lines of business include Land Mobile, Maritime, Aviation, and Government.
