Sirius XM (NASDAQ:SIRI) Sees Unusually-High Trading Volume

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) saw unusually-strong trading volume on Friday . Approximately 28,558,581 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 19,274,307 shares.The stock last traded at $3.00 and had previously closed at $2.90.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of recent research reports. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $3.50 to $3.25 in a research report on Wednesday, May 1st. Rosenblatt Securities lowered their price target on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Barrington Research reaffirmed an “outperform” rating and set a $4.75 price target on shares of Sirius XM in a research report on Tuesday, May 28th. Guggenheim assumed coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target on the stock. Finally, Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.33.

Sirius XM Trading Up 1.0 %

The business’s 50 day moving average price is $2.90 and its two-hundred day moving average price is $4.09. The company has a market capitalization of $11.27 billion, a price-to-earnings ratio of 8.88, a P/E/G ratio of 0.95 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company posted $0.06 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Analysts expect that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were given a dividend of $0.0266 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.63%. Sirius XM’s dividend payout ratio is presently 30.30%.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now owns 169,309 shares in the company, valued at $440,203.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Sirius XM by 1.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock worth $3,120,000 after buying an additional 9,956 shares during the last quarter. Morningstar Investment Services LLC bought a new position in Sirius XM during the fourth quarter worth $85,000. Northern Trust Corp raised its stake in Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after buying an additional 1,776,700 shares during the last quarter. Assetmark Inc. raised its stake in Sirius XM by 1,320.9% during the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock worth $214,000 after buying an additional 36,326 shares during the last quarter. Finally, Jump Financial LLC raised its stake in Sirius XM by 25.2% during the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock worth $232,000 after buying an additional 8,541 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.