Director Jane Harman has executed a sale of 3,798 shares of Iridium Communications Inc (NASDAQ:IRDM) on March 6, 2024, according to a recent SEC filing. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission.
Iridium Communications Inc is a company that provides global satellite communications services. It offers voice and data communications services to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers via its constellation of 66 operational satellites. The company's products and services are used for a variety of applications, including disaster response, maritime and aeronautical navigation, and remote monitoring of assets.
Over the past year, the insider has sold a total of 3,798 shares and has not made any share purchases. This latest transaction continues a pattern of insider sales at the company, with a total of 7 insider sells and only 1 insider buy over the past year.
On the day of the sale, shares of Iridium Communications Inc were trading at $28.41, giving the company a market capitalization of $3.488 billion. The price-earnings ratio of the company stands at 219.15, significantly above the industry median of 16.57 and also above the company's historical median price-earnings ratio.
The stock's price relative to the GuruFocus Value (GF Value) indicates a price-to-GF-Value ratio of 0.51, with the GF Value estimated at $55.76. This suggests that the stock is currently seen as a Possible Value Trap, Think Twice, according to the GF Value metric. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates from Morningstar analysts.
The insider's recent sale may attract the attention of investors who track insider behaviors as an indicator of a company's prospects. It is important for investors to consider the broader context of the market and the company's performance when evaluating insider transactions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
