Iridium Communications Inc. (IRDM) – Don’t Believe the Hype: Check The Facts

343 institutions hold shares in Iridium Communications Inc. (IRDM), with 16.27M shares held by insiders accounting for 12.11% while institutional investors hold 95.23% of the company’s shares. The shares outstanding are 134.43M, and float is at 117.90M with Short Float at 4.03%. Institutions hold 83.70% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 17.87 million shares valued at $702.55 million. The investor’s holdings represent 13.30% of the IRDM Shares outstanding. As of Dec 30, 2020, the second largest holder is BAMCO Inc. with 12.9 million shares valued at $507.24 million to account for 9.61% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 12.25 million shares representing 9.12% and valued at over $481.63 million, while ARK Investment Management, LLC holds 5.19% of the shares totaling 6.97 million with a market value of $274.1 million.

Iridium Communications Inc. (NASDAQ: IRDM) is 3.22% higher on its value in year-to-date trading and has touched a low of $16.87 and a high of $54.65 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The IRDM stock was last observed hovering at around $44.20 in the last trading session, with the day’s loss setting it -3.61% off its average median price target of $37.00 for the next 12 months. It is also -6.82% off the consensus price target high of $38.00 offered by 5 analysts, but current levels are -9.7% lower than the price target low of $37.00 for the same period.

Currently trading at $40.59, the stock is -17.38% and -7.52% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.48 million and changing -8.17% at the moment leaves the stock 29.03% off its SMA200. IRDM registered 41.08% gain for a year compared to 6-month gain of 45.33%. The firm has a 50-day simple moving average (SMA 50) of $47.49 and a 200-day simple moving average (SMA200) of $34.39.

The stock witnessed a -17.16% loss in the last 1 month and extending the period to 3 months gives it a 25.43%, and is -17.21% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.37% over the week and 5.53% over the month.

Iridium Communications Inc. (IRDM) has around 516 employees, a market worth around $5.45B and $583.40M in sales. Fwd P/E is 1230.00. Profit margin for the company is -9.60%. Distance from 52-week low is 140.60% and -25.73% from its 52-week high. The company has generated returns on investments over the last 12 months (1.30%).

Iridium Communications Inc. (IRDM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Iridium Communications Inc. (IRDM) is a “Hold”. 5 analysts offering their recommendations for the stock have an average rating of 2.80, where 3 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Iridium Communications Inc. is expected to release its quarterly report on 04/29/2021 and quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $146.23M over the same period.The EPS is expected to grow by 68.40% this year, but quarterly earnings will post 3.70% year-over-year. Quarterly sales are estimated to grow 3.30% in year-over-year returns.

Iridium Communications Inc. (IRDM) Insider Activity

A total of 74 insider transactions have happened at Iridium Communications Inc. (IRDM) in the last six months, with sales accounting for 42 and purchases happening 32 times. The most recent transaction is an insider sale by Canfield Thomas C, the company’s Director. SEC filings show that Canfield Thomas C sold 8,127 shares of the company’s common stock on Feb 19 at a price of $46.96 per share for a total of $0.38 million. Following the sale, the insider now owns 0.23 million shares.

Iridium Communications Inc. disclosed in a document filed with the SEC on Feb 18 that DESCH MATTHEW J (Chief Executive Officer) sold a total of 62,087 shares of the company’s common stock. The trade occurred on Feb 18 and was made at $48.32 per share for $3.0 million. Following the transaction, the insider now directly holds 0.59 million shares of the IRDM stock.

Still, SEC filings show that on Feb 18, FITZPATRICK THOMAS (Chief Financial Officer) disposed off 170,590 shares at an average price of $47.02 for $8.02 million. The insider now directly holds 92,318 shares of Iridium Communications Inc. (IRDM).

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Iridium Communications Inc. (IRDM): Who are the competitors?

The company’s main competitors (and peers) include Gogo Inc. (GOGO) that is trading 177.70% up over the past 12 months. ORBCOMM Inc. (ORBC) is 101.59% up on the 1-year trading charts. Short interest in the company’s stock has fallen -12.0% from the last report on Dec 30, 2020 to stand at a total of 5.32 million short shares sold with a short interest ratio of 5.02.

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