Iridium Communications CLO Kathleen Morgan sells $1.67m in stock

Kathleen A. Morgan, the Chief Legal Officer at Iridium Communications Inc., divested a portion of her shares on August 17, 2026, in two separate transactions. During the first sale, Morgan traded 32,648 shares at an average price of $50.34 per share, while the second sale involved 544 shares at a weighted average price of $50.85.

Both sales occurred at varying prices within specific ranges. Following the reported transactions, Morgan now owns 124,871 shares of Iridium Communications common stock directly. The company’s shares are currently trading at a P/E ratio of 56, indicating investor confidence in the satellite communications provider's growth potential.

For a detailed analysis of IRDM's valuation and performance, readers can explore InvestingPro's Pro Research Report. Meanwhile, Iridium Communications Inc. released its second-quarter financial results, where the company failed to meet earnings expectations but exceeded analyst-recommended revenue estimates. Despite the earnings miss, the revenue beat highlights certain positive aspects of Iridium’s operations. These financial developments provide valuable insights for investors weighing their decisions.