Sirius XM (NASDAQ:SIRI) Trading Down 4.5% - Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SIRI. Rosenblatt Securities decreased their price target on Sirius XM from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Barrington Research restated an "outperform" rating and issued a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 2nd. Finally, Seaport Res Ptn upgraded Sirius XM from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Six analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $26.65.

Sirius XM Stock Up 1.8%

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $7.43 billion, a P/E ratio of -3.43, a PEG ratio of 0.79 and a beta of 0.90. The stock has a 50 day moving average of $21.25 and a 200-day moving average of $23.06.

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

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.08 annualized dividend and a dividend yield of 4.91%. Sirius XM's dividend payout ratio is currently -16.56%.

Insider Transactions at Sirius XM

In other news, Director Kristina Salen sold 1,651 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $22.27, for a total transaction of $36,767.77. Following the sale, the director now directly owns 15,471 shares in the company, valued at $344,539.17. This represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.32% of the company's stock.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in Sirius XM by 21.2% in the 4th quarter. State of Alaska Department of Revenue now owns 234,242 shares of the company's stock valued at $5,340,000 after purchasing an additional 41,000 shares during the period. Check Capital Management Inc. CA boosted its stake in Sirius XM by 597.7% during the fourth quarter. Check Capital Management Inc. CA now owns 1,145,731 shares of the company's stock valued at $26,123,000 after buying an additional 981,517 shares during the period. Legato Capital Management LLC boosted its stake in Sirius XM by 21.9% during the fourth quarter. Legato Capital Management LLC now owns 85,500 shares of the company's stock valued at $1,949,000 after buying an additional 15,342 shares during the period. MBA Advisors LLC purchased a new position in Sirius XM during the fourth quarter worth about $228,000. Finally, Berkshire Hathaway Inc increased its stake in Sirius XM by 11.7% in the 4th quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company's stock worth $2,678,283,000 after acquiring an additional 12,313,544 shares during the last quarter. Institutional investors own 10.69% of the company's stock.

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.