Stock Traders Purchase High Volume of Call Options on Sirius XM (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of unusually large options trading on Tuesday. Traders bought 64,152 call options on the company. This is an increase of approximately 80% compared to the typical volume of 35,732 call options.

Sirius XM Price Performance

SIRI opened at $3.10 on Wednesday. The firm has a market cap of $11.92 billion, a P/E ratio of 9.39, a PEG ratio of 0.92 and a beta of 1.08. Sirius XM has a 1-year low of $2.45 and a 1-year high of $7.95. The company has a 50 day simple moving average of $2.86 and a two-hundred day simple moving average of $3.98.

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

Sirius XM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were paid a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a yield of 3.43%. The ex-dividend date was Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the business’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 completion of the transaction, the director now owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BKM Wealth Management LLC purchased a new position in shares of Sirius XM during the fourth quarter valued at about $27,000. First PREMIER Bank bought a new position in Sirius XM during the first quarter valued at approximately $31,000. First United Bank & Trust purchased a new position in Sirius XM during the 4th quarter valued at approximately $37,000. TFO Wealth Partners LLC increased its stake in Sirius XM by 140,560.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares during the last quarter. Finally, Graypoint LLC purchased a new stake in shares of Sirius XM during the 1st quarter worth approximately $39,000. 10.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SIRI. Pivotal Research upgraded shares of 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 note on Wednesday, April 24th. Rosenblatt Securities lowered their target price on Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. StockNews.com began coverage on Sirius XM in a research note on Tuesday. They set a “hold” rating for the company. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their price target for the company from $4.25 to $3.25 in a research report on Monday, June 24th. Finally, Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.11.

Sirius XM Company Profile

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.