Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) rose 3.6% during mid-day trading on Thursday . The company traded as high as $23.17 and last traded at $23.22. Approximately 1,838,871 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 4,487,419 shares. The stock had previously closed at $22.41.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on SIRI shares. Wells Fargo & Company cut their price objective on Sirius XM from $19.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st. Guggenheim reiterated a "buy" rating and set a $29.00 price objective on shares of Sirius XM in a research report on Thursday, June 26th. Rosenblatt Securities boosted their price objective on Sirius XM from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Barrington Research reissued an "outperform" rating and set a $28.00 price objective on shares of Sirius XM in a report on Friday, August 1st. Finally, Morgan Stanley increased their price objective on shares of Sirius XM from $21.00 to $22.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Six equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.18.
Get Our Latest Report on Sirius XM
Sirius XM Stock Performance
The stock's 50-day simple moving average is $22.71 and its two-hundred day simple moving average is $22.67. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of -3.48, a price-to-earnings-growth ratio of 0.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.41 and a current ratio of 0.41.
Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.22). The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a positive return on equity of 3.73% and a negative net margin of 26.41%. The firm's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. Analysts forecast that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.
Sirius XM Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Friday, August 8th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, August 8th. Sirius XM's dividend payout ratio is presently -16.00%.
Insider Buying and Selling at Sirius XM
In other news, Director Kristina Salen sold 1,651 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $22.27, for a total transaction of $36,767.77. Following the completion of the sale, the director directly owned 15,471 shares of the company's stock, valued at $344,539.17. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.32% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of SIRI. Brighton Jones LLC purchased a new position in Sirius XM in the fourth quarter worth $622,000. Envestnet Asset Management Inc. grew its stake in shares of Sirius XM by 62.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 409,427 shares of the company's stock worth $9,335,000 after acquiring an additional 157,807 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Sirius XM by 86.4% during the fourth quarter. Cerity Partners LLC now owns 43,731 shares of the company's stock valued at $1,000,000 after purchasing an additional 20,273 shares in the last quarter. Bank of Montreal Can purchased a new stake in Sirius XM during the fourth quarter valued at $307,000. Finally, Sterling Capital Management LLC increased its holdings in Sirius XM by 37.4% in the 4th quarter. Sterling Capital Management LLC now owns 12,784 shares of the company's stock worth $291,000 after acquiring an additional 3,482 shares in the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.
About Sirius XM
(
Get Free Report)
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.
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