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The COO of Iridium Communications is Exercising Options


Today it was reported that the COO of Iridium Communications (IRDM), Scott S. Smith, exercised options to sell 74,701 IRDM shares at $6.08 a share, for a total transaction value of $1.53M.

Following Scott S. Smith’s last IRDM Sell transaction on August 21, 2018, the stock climbed by 0.9%.

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Based on Iridium Communications’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $137 million and GAAP net loss of $12.84 million. In comparison, last year the company earned revenue of $117 million and had a net profit of $29.23 million. IRDM’s market cap is $2.42B and the company has a P/E ratio of 22.22. Currently, Iridium Communications has an average volume of 508.6K.

Based on 4 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $22.88, reflecting a 5.6% upside.

The insider sentiment on Iridium Communications has been negative according to 57 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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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.