Sirius XM (NASDAQ:SIRI) Sets New 52-Week Low at $22.72

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $22.72 and last traded at $22.83, with a volume of 1939572 shares. The stock had previously closed at $23.65.

Analysts Set New Price Targets

A number of research analysts have commented on SIRI shares. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their price objective for the company from $42.50 to $32.50 in a research note on Monday, June 24th. Citigroup upped their price target on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Morgan Stanley reaffirmed an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Barrington Research reissued an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a report on Monday, July 15th. Finally, Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus target price of $34.27.

Sirius XM Stock Performance

The stock’s 50-day simple moving average is $29.88 and its two-hundred day simple moving average is $31.15. The stock has a market cap of $87.55 billion, a price-to-earnings ratio of 68.76, a price-to-earnings-growth ratio of 0.83 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. As a group, research analysts predict that Sirius XM Holdings Inc. will post 3.08 earnings per share for the current year.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.266 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.67%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 321.21%.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of Sirius XM during the second quarter worth $3,041,000. Point72 Asset Management L.P. bought a new position in Sirius XM in the second quarter valued at $12,858,000. Creative Planning increased its position in shares of Sirius XM by 12.1% in the second quarter. Creative Planning now owns 844,387 shares of the company’s stock valued at $2,390,000 after acquiring an additional 91,223 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Sirius XM by 37.2% during the second quarter. The Manufacturers Life Insurance Company now owns 282,600 shares of the company’s stock valued at $800,000 after purchasing an additional 76,552 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its stake in Sirius XM by 44.5% in the second quarter. Dark Forest Capital Management LP now owns 100,688 shares of the company’s stock valued at $285,000 after purchasing an additional 31,000 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

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.