Sirius XM (NASDAQ:SIRI) Shares Gap Up – What’s Next?

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price gapped up before the market opened on Friday . The stock had previously closed at $20.58, but opened at $21.15. Sirius XM shares last traded at $21.82, with a volume of 795,384 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SIRI. The Goldman Sachs Group cut their price target on Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Pivotal Research cut their target price on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Guggenheim reissued a “buy” rating and set a $30.00 price target on shares of Sirius XM in a research report on Wednesday, December 11th. StockNews.com assumed coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating on the stock. Finally, Seaport Res Ptn cut shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $27.58.

Sirius XM Stock Up 12.1 %

The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of -3.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The business has a fifty day moving average price of $26.16 and a two-hundred day moving average price of $28.38.

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a $0.27 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Sirius XM’s dividend payout ratio is -17.03%.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $27.43 per share, for a total transaction of $4,815,857.67. Following the transaction, the insider now owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. This trade represents a 0.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 2,646,761 shares of company stock worth $65,952,329 over the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Janus Henderson Group PLC acquired a new stake in shares of Sirius XM during the 3rd quarter valued at about $2,367,000. Savant Capital LLC purchased a new position in shares of Sirius XM during the 2nd quarter valued at approximately $613,000. FMR LLC grew its stake in Sirius XM by 472.6% in the 3rd quarter. FMR LLC now owns 497,514 shares of the company’s stock valued at $11,766,000 after acquiring an additional 410,621 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Sirius XM in the 3rd quarter worth $5,489,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Sirius XM during the third quarter worth $921,000. Institutional investors and hedge funds 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.