New insider activity at Iridium Communications ( (IRDM) ) has taken place on February 20, 2025.
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Recently, significant transactions have taken place involving the stock of Iridium Communications. Kathleen A. Morgan, the Chief Legal Officer, has sold 15,005 shares, amounting to a total of $503,867. In another transaction, Director Eric T. Olson has sold 4,955 shares, which were valued at $168,618.
Recent Updates on IRDM stock
Iridium Communications’ recent earnings call revealed positive financial health, with strong free cash flow and shareholder returns. The company reported over $300 million in pro forma free cash flow for 2024, exceeding projections, and returned approximately $140 million to shareholders. Service revenue grew by 5%, and operational EBITDA exceeded expectations, highlighting robust financial standing despite IoT and broadband challenges. Iridium expanded its global partnerships and launched new products like Iridium Certus IoT, enhancing market offerings. Aireon, partly owned by Iridium, strengthened its aviation surveillance presence by covering over half of the world’s airspace. However, the IoT subscriber base saw a decline due to a significant customer’s retail plan shift, and broadband revenue decreased by 9% in Q4. Looking forward, Iridium projects service revenue growth between 5% and 7% for 2025. Deutsche Bank raised the price target for Iridium, reflecting ongoing strategic growth and strong shareholder returns, while Cathie Wood’s ARK Investment increased its stake in the company.
More about Iridium Communications
YTD Price Performance: 9.77%
Average Trading Volume: 1,065,570
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.53B