Sirius XM (NASDAQ:SIRI) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Sirius XM shares briefly moved above their 200-day moving average of $27.38, reaching $27.70 before last trading at $26.53.
• Analyst sentiment remains mixed, with a consensus “Hold” rating from 19 analysts and an average price target of $32.15; targets range from $32 to $45 among recent coverage.
• The company reported quarterly revenue of $2.16 billion, slightly above estimates, but EPS of $0.70 missed the $0.78 consensus. Sirius XM also paid a quarterly dividend of $0.27, representing a 4.1% annualized yield.

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.38 and traded as high as $27.70. Sirius XM shares last traded at $26.53, with a volume of 6,161,639 shares traded.

Analyst Ratings Changes

Several brokerages have commented on SIRI. The Goldman Sachs Group restated a "neutral" rating and set a $32.00 price objective on shares of Sirius XM in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Cantor Fitzgerald began coverage on shares of Sirius XM in a report on Wednesday, September 2nd. They set an "overweight" rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Sirius XM from a "hold" rating to a "buy" rating and boosted their target price for the company from $31.00 to $45.00 in a research report on Wednesday, September 2nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $37.00 price target (up from $35.00) on shares of Sirius XM in a report on Thursday, September 17th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.15.

Sirius XM Price Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a fifty day simple moving average of $29.28 and a 200-day simple moving average of $27.38. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 0.49 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business earned $0.57 EPS. Sirius XM's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sirius XM Holdings Inc. will post 3 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th were issued a $0.27 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.08 dividend on an annualized basis and a yield of 4.1%. Sirius XM's payout ratio is presently 43.20%.

Insider Activity

In other news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director directly owned 18,354 shares of the company's stock, valued at $550,069.38. This represents a 47.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Sirius XM by 68.9% during the 2nd quarter. State Street Corp now owns 5,992,497 shares of the company's stock valued at $177,018,000 after buying an additional 2,444,881 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Sirius XM by 250.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,389 shares of the company's stock worth $6,274,000 after acquiring an additional 151,747 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Sirius XM by 23.5% during the second quarter. Sequoia Financial Advisors LLC now owns 23,736 shares of the company's stock worth $701,000 after acquiring an additional 4,523 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Sirius XM during the second quarter worth $1,477,000. Finally, WINTON GROUP Ltd lifted its holdings in Sirius XM by 1,801.7% during the second quarter. WINTON GROUP Ltd now owns 298,563 shares of the company's stock valued at $8,820,000 after purchasing an additional 282,863 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company's stock.

About Sirius XM

Sirius XM Holdings Inc provides subscription-based audio entertainment and information services in the United States and Canada. Its SiriusXM service delivers commercial-free music, sports, news, talk and entertainment programming through satellite radio and internet streaming, including its mobile app and connected-vehicle platforms.

The company offers a broad range of exclusive and licensed content, including live sports coverage, original talk and comedy programs, news services, podcasts, and music channels organized by genre and artist.

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