The EVP-Government Programs of Iridium Communications is Exercising Options


Yesterday it was reported that the EVP-Government Programs of Iridium Communications (IRDM), Scott Scheimreif, exercised options to sell 79,078 IRDM shares at $8.73 a share, for a total transaction value of $2.15M.

Following Scott Scheimreif’s last IRDM Sell transaction on August 09, 2018, the stock climbed by 7.1%. In addition to Scott Scheimreif, 2 other IRDM executives 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.

The insider sentiment on Iridium Communications has been negative according to 81 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Scott Scheimreif’s trades have generated a -22.1% 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 principal lines of business include Land Mobile, Maritime, Aviation, and Government.

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