Sirius XM (NASDAQ:SIRI) Stock Price Down 1.5%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price was down 1.5% during mid-day trading on Tuesday . The company traded as low as $2.61 and last traded at $2.65. Approximately 10,301,312 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 22,061,129 shares. The stock had previously closed at $2.69.

Analyst Ratings Changes

A number of research analysts have issued reports on SIRI shares. Wells Fargo & Company reduced their price objective on Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and reduced their price objective for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Benchmark dropped their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Guggenheim assumed coverage on 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, Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price target for the company from $4.25 to $3.25 in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Sirius XM currently has an average rating of “Hold” and an average target price of $4.21.

Sirius XM Trading Up 1.5 %

The business has a fifty day moving average of $2.89 and a 200-day moving average of $4.06. The firm has a market cap of $10.39 billion, a PE ratio of 8.18, a PEG ratio of 0.87 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS. On average, equities analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were issued a dividend of $0.0266 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.94%. Sirius XM’s dividend payout ratio (DPR) is 33.33%.

Insider Buying and Selling

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the sale, the director now owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the business. BKM Wealth Management LLC purchased a new stake in shares of Sirius XM in the 4th quarter valued at about $27,000. First United Bank & Trust bought a new position in shares of Sirius XM during the 4th quarter valued at about $37,000. TFO Wealth Partners LLC increased its position in shares of Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after purchasing an additional 7,028 shares during the last quarter. American National Bank bought a new position in shares of Sirius XM during the 4th quarter valued at about $41,000. Finally, V Square Quantitative Management LLC increased its position in shares of Sirius XM by 66.6% during the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after purchasing an additional 3,194 shares during the last quarter. Hedge funds and other 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.