Sirius XM (NASDAQ:SIRI) Trading Up 1.1%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price was up 1.1% on Wednesday . The stock traded as high as $2.73 and last traded at $2.69. Approximately 8,804,957 shares were traded during trading, a decline of 60% from the average daily volume of 22,224,408 shares. The stock had previously closed at $2.66.

Analysts Set New Price Targets

Several equities analysts have weighed in on SIRI shares. Wells Fargo & Company dropped their price objective on Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and decreased their target price for the company from $4.25 to $3.25 in a research report on Monday. Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and decreased their target price for the company from $5.05 to $4.90 in a research report on Wednesday, April 24th. Guggenheim decreased their price objective on Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a report on Thursday. Finally, Rosenblatt Securities decreased their price objective on Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.11.

Sirius XM Stock Performance

The firm has a market capitalization of $10.50 billion, a P/E ratio of 8.27, a PEG ratio of 0.88 and a beta of 1.08. The firm has a 50-day moving average of $2.88 and a 200-day moving average of $4.05.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the firm posted $0.06 EPS. On average, research analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were paid a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.90%. Sirius XM’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total value of $32,797.16. Following the completion of the sale, the director now directly owns 181,827 shares in the company, valued at approximately $476,386.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in Sirius XM by 11.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 64,603 shares of the company’s stock worth $292,000 after buying an additional 6,628 shares in the last quarter. Northern Trust Corp increased its stake in Sirius XM by 18.7% in the 3rd 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 in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Sirius XM by 16.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after buying an additional 3,495 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Sirius XM by 5.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 296,758 shares of the company’s stock worth $1,341,000 after buying an additional 15,256 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Sirius XM by 349.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 213,608 shares of the company’s stock worth $966,000 after buying an additional 166,068 shares in 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.