Investors Purchase High Volume of Call Options on Sirius XM (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) saw some unusual options trading on Wednesday. Investors purchased 52,926 call options on the company. This is an increase of 89% compared to the typical volume of 28,006 call options.

Sirius XM Trading Down 3.1 %

SIRI stock traded down $0.09 during midday trading on Wednesday, reaching $2.80. The stock had a trading volume of 33,021,495 shares, compared to its average volume of 16,031,483. The company's fifty day simple moving average is $3.36 and its 200 day simple moving average is $4.41. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.98 and a beta of 1.10. Sirius XM has a 52-week low of $2.79 and a 52-week high of $7.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Sell-side analysts predict that Sirius XM will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM's dividend payout ratio (DPR) is presently 33.33%.

Institutional Trading of Sirius XM

A number of hedge funds and other institutional investors have recently modified their holdings of SIRI. Truvestments Capital LLC acquired a new stake in shares of Sirius XM in the 3rd quarter worth $27,000. BKM Wealth Management LLC acquired a new stake in shares of Sirius XM during the 4th quarter worth about $27,000. First PREMIER Bank acquired a new stake in shares of Sirius XM during the 1st quarter worth about $31,000. First United Bank & Trust acquired a new stake in shares of Sirius XM during the 4th quarter worth about $37,000. Finally, TFO Wealth Partners LLC increased its position in shares of Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company's stock worth $38,000 after purchasing an additional 7,028 shares during the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SIRI. Wells Fargo & Company decreased their price target on Sirius XM from $3.00 to $2.50 and set an "underweight" rating for the company in a report on Wednesday, May 1st. Benchmark decreased their price target on Sirius XM from $7.00 to $6.50 and set a "buy" rating for the company in a report on Wednesday, March 27th. StockNews.com began coverage on Sirius XM in a report on Wednesday, May 15th. They issued a "hold" rating for the company. Rosenblatt Securities decreased their price target on Sirius XM from $4.50 to $3.40 and set a "neutral" rating for the company in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group raised Sirius XM from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.42.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.