Iridium Communications (NASDAQ:IRDM) Director Thomas Fitzpatrick Sells 15,046 Shares of Stock

Iridium Communications Inc (NASDAQ:IRDM) Director Thomas Fitzpatrick sold 15,046 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $49.20, for a total transaction of $740,263.20. Following the completion of the sale, the director owned 43,260 shares of the company’s stock, valued at $2,128,392. This trade represents a 25.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Thomas Fitzpatrick also recently made the following trade(s):

• On Monday, August 17th, Thomas Fitzpatrick sold 209,233 shares of Iridium Communications stock. The shares were sold at an average price of $50.22, for a total value of $10,507,681.26.

Iridium Communications Price Performance

Shares of IRDM stock opened at $48.71 on Thursday. Iridium Communications Inc has a 12 month low of $15.65 and a 12 month high of $57.18. The company has a market capitalization of $5.16 billion, a PE ratio of 55.35, a price-to-earnings-growth ratio of 3.96 and a beta of 0.88. The firm’s 50-day moving average is $48.15 and its two-hundred day moving average is $38.61. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.78 and a quick ratio of 2.31.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings data on Wednesday, July 22nd. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The business had revenue of $225.24 million during the quarter, compared to analysts’ expectations of $220.32 million. Iridium Communications had a return on equity of 22.57% and a net margin of 10.55%.The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. Analysts predict that Iridium Communications Inc will post 0.95 earnings per share for the current year.

Iridium Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.2%. Iridium Communications’s payout ratio is presently 68.18%.

Key Stories Impacting Iridium Communications

Here are the key news stories impacting Iridium Communications this week:

• Positive Sentiment: Iridium recently declared a quarterly dividend of $0.15 per share, or $0.60 annualized, providing a 1.2% yield. The dividend may support investor interest, although the payout ratio is relatively high at 68.18%. Satellite stocks article
• Neutral Sentiment: Analyst views remain mixed. New Street Research upgraded IRDM to Buy, while William Blair moved to Hold and BWS Financial maintained a Sell rating. The consensus rating is Hold, with a $38.67 price target—well below the stock’s recent trading range—suggesting valuation concerns despite Iridium’s strong share-price appreciation over the past year. Iridium Communications analyst coverage
• Negative Sentiment: Company insiders collectively sold approximately 375,919 shares worth $18.9 million in transactions dated August 17–18, at prices between $49.20 and $50.51. The broad participation by executives and directors may be interpreted as profit-taking and is the clearest near-term negative catalyst for IRDM. SEC insider filing
• Negative Sentiment: Director Thomas Fitzpatrick accounted for the largest sale, disposing of 209,233 shares for about $10.5 million and reducing his reported ownership by 78.21%. Additional sales came from Suzanne McBride, Kathleen Morgan, EVP Timothy Last and CAO Timothy Kapalka, with each reducing their positions by roughly 17% to 27%. SEC director filing
• Negative Sentiment: Investor caution is amplified by Iridium’s demanding valuation—approximately 55 times earnings and nearly four times its PEG ratio—alongside its latest quarterly EPS miss. Revenue exceeded estimates and increased year over year, but earnings fell short of expectations, leaving the stock vulnerable to profit-taking after its strong run.

Institutional Investors Weigh In On Iridium Communications

Several hedge funds have recently modified their holdings of IRDM. Quadrant Capital Group LLC grew its holdings in Iridium Communications by 107.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,430 shares of the technology company’s stock valued at $25,000 after buying an additional 741 shares during the period. Larson Financial Group LLC raised its stake in shares of Iridium Communications by 392.8% during the third quarter. Larson Financial Group LLC now owns 1,508 shares of the technology company’s stock valued at $26,000 after purchasing an additional 1,202 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Iridium Communications during the fourth quarter worth about $27,000. CIBC Private Wealth Group LLC bought a new stake in shares of Iridium Communications in the third quarter worth $32,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Iridium Communications by 10,363.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,988 shares of the technology company’s stock worth $35,000 after purchasing an additional 1,969 shares in the last quarter. 84.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on IRDM. BWS Financial reaffirmed a “sell” rating and issued a $16.00 price target on shares of Iridium Communications in a research report on Monday, April 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Iridium Communications in a report on Friday, July 10th. New Street Research upgraded shares of Iridium Communications from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 22nd. William Blair cut shares of Iridium Communications from an “outperform” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Oppenheimer lifted their price target on Iridium Communications from $48.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.67.

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.