Sirius XM (NASDAQ:SIRI) Hits New 1-Year High - Here's What Happened

Key Points

• Sirius XM hit a new 52-week high, trading as high as $24.95 and last at $25.00 on Friday, with the stock up about 1.4%.
• Wall Street consensus is a "Hold" with an average target of $24.44, reflecting mixed analyst views (3 Buy, 4 Hold, 3 Sell) and recent price-target upgrades into the $24–$28 range.
• The company pays a $0.27 quarterly dividend (annualized $1.08) for a 4.3% yield and trades at a P/E of 11.19 with a market cap of $8.44 billion.

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report)'s share price reached a new 52-week high on Friday . The stock traded as high as $24.95 and last traded at $25.00, with a volume of 444816 shares changing hands. The stock had previously closed at $24.73.

Wall Street Analysts Forecast Growth

SIRI has been the subject of several research reports. Rosenblatt Securities boosted their target price on Sirius XM from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Weiss Ratings downgraded Sirius XM from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, February 6th. UBS Group set a $24.00 price objective on Sirius XM in a research note on Tuesday, February 10th. Barrington Research reaffirmed an "outperform" rating and set a $28.00 price objective on shares of Sirius XM in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. raised Sirius XM from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $20.00 to $24.00 in a research note on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $24.44.

Sirius XM Trading Up 1.4%

The firm has a market capitalization of $8.44 billion, a PE ratio of 11.19, a P/E/G ratio of 0.64 and a beta of 0.85. The business has a 50 day moving average price of $22.38 and a 200-day moving average price of $21.68. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75.

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, February 11th. Sirius XM's dividend payout ratio is 48.21%.

Hedge Funds Weigh In On Sirius XM

A number of large investors have recently modified their holdings of the business. Everstar Asset Management LLC raised its stake in shares of Sirius XM by 1.5% during the 1st quarter. Everstar Asset Management LLC now owns 42,790 shares of the company's stock worth $988,000 after buying an additional 626 shares in the last quarter. Evolve Private Wealth LLC grew its holdings in shares of Sirius XM by 5.5% in the 1st quarter. Evolve Private Wealth LLC now owns 16,366 shares of the company's stock worth $378,000 after acquiring an additional 852 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Sirius XM by 858.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company's stock worth $41,726,000 after acquiring an additional 1,859,872 shares during the period. PeakShares LLC acquired a new stake in shares of Sirius XM in the 4th quarter worth approximately $46,000. Finally, Corient Private Wealth LLC grew its holdings in shares of Sirius XM by 2.0% in the 4th quarter. Corient Private Wealth LLC now owns 31,263 shares of the company's stock worth $625,000 after acquiring an additional 615 shares during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

About Sirius XM

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM's offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.

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