Sirius XM (NASDAQ:SIRI) Trading Down 4.5% - Here's Why

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) shares fell 4.5% on Monday . The stock traded as low as $20.70 and last traded at $20.71. 635,597 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 5,112,430 shares. The stock had previously closed at $21.68.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SIRI. Barrington Research reaffirmed an "outperform" rating and issued a $28.00 price target on shares of Sirius XM in a research note on Friday, May 2nd. Seaport Res Ptn raised shares of Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, Rosenblatt Securities reduced their price objective on shares of Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Sirius XM currently has an average rating of "Hold" and an average target price of $26.65.

Sirius XM Trading Up 0.8%

The firm has a market capitalization of $7.36 billion, a PE ratio of -3.40, a PEG ratio of 0.79 and a beta of 0.90. The firm's fifty day moving average is $21.29 and its two-hundred day moving average is $23.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42.

Sirius XM (NASDAQ:SIRI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The firm had revenue of $2.07 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the firm posted $0.07 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts predict that Sirius XM Holdings Inc. will post 3.2 EPS for the current fiscal year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Friday, May 9th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Friday, May 9th. Sirius XM's dividend payout ratio (DPR) is presently -16.56%.

Insider Buying and Selling

In other Sirius XM 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 value of $36,767.77. Following the transaction, the director now directly owns 15,471 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 3.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc boosted its stake in Sirius XM by 11.7% in the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock valued at $2,678,283,000 after acquiring an additional 12,313,544 shares during the last quarter. Geode Capital Management LLC boosted its stake in Sirius XM by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 3,914,785 shares of the company's stock valued at $89,284,000 after acquiring an additional 154,765 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Sirius XM by 661.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,577,176 shares of the company's stock valued at $80,630,000 after acquiring an additional 3,107,313 shares during the last quarter. LSV Asset Management boosted its stake in Sirius XM by 41.5% in the first quarter. LSV Asset Management now owns 3,197,800 shares of the company's stock valued at $72,094,000 after acquiring an additional 937,500 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Sirius XM by 42.0% in the first quarter. Ameriprise Financial Inc. now owns 2,345,364 shares of the company's stock valued at $52,876,000 after acquiring an additional 693,473 shares during the last quarter. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

About Sirius XM

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.