Sirius XM (NASDAQ:SIRI) Sees Strong Trading Volume

Sirius XM Holdings Inc. (NASDAQ:SIRI) saw strong trading volume on Wednesday . 9,339,064 shares traded hands during mid-day trading, a decline of 60% from the previous session’s volume of 23,629,559 shares.The stock last traded at $3.36 and had previously closed at $3.10.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barrington Research reissued an “outperform” rating and issued a $4.75 price target on shares of Sirius XM in a research note on Tuesday, May 28th. StockNews.com assumed coverage on shares of Sirius XM in a research note on Tuesday. They issued a “hold” rating for the company. Rosenblatt Securities dropped their price target on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the company from $4.10 to $3.30 in a research note on Wednesday, April 24th. Finally, Evercore ISI raised shares of 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 note on Monday, June 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Sirius XM presently has an average rating of “Hold” and a consensus price target of $4.11.

Sirius XM Stock Performance

The stock has a market cap of $13.58 billion, a PE ratio of 10.70, a PEG ratio of 1.01 and a beta of 1.08. The stock’s 50-day moving average is $2.87 and its two-hundred day moving average is $3.96.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping 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 firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the company posted $0.06 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were given a $0.0266 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.01%. Sirius XM’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $2.62, for a total value of $32,797.16. Following the completion of the transaction, the director now owns 181,827 shares of the company’s stock, valued at approximately $476,386.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Sirius XM by 1.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock valued at $3,120,000 after purchasing an additional 9,956 shares in the last quarter. Morningstar Investment Services LLC acquired a new stake in shares of Sirius XM in the 4th quarter valued at $85,000. Assetmark Inc. raised its holdings in shares of Sirius XM by 1,320.9% in the 4th quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock valued at $214,000 after purchasing an additional 36,326 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Sirius XM by 25.2% in the 4th quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after purchasing an additional 8,541 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sirius XM by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after purchasing an additional 218,211 shares in 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.