Sirius XM (NASDAQ:SIRI) Sees Large Volume Increase

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares saw an uptick in trading volume on Monday . 1,647,818 shares were traded during mid-day trading, a decline of 43% from the previous session’s volume of 2,912,549 shares.The stock last traded at $25.85 and had previously closed at $24.95.

Analysts Set New Price Targets

Several research firms have weighed in on SIRI. Deutsche Bank Aktiengesellschaft dropped their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Rosenblatt Securities upped their target price on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their price target for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. The Goldman Sachs Group reduced their target price on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Finally, Citigroup downgraded Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price target on the stock. in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sirius XM presently has an average rating of “Hold” and a consensus price target of $36.91.

Sirius XM Stock Performance

The firm has a market capitalization of $98.32 billion, a price-to-earnings ratio of 75.36, a P/E/G ratio of 0.90 and a beta of 1.08. The business has a 50 day simple moving average of $31.34 and a 200-day simple moving average of $31.87.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Equities analysts predict that Sirius XM Holdings Inc. will post 3.14 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a $0.266 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.06 dividend on an annualized basis and a yield of 4.16%. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio is presently 321.21%.

Insider Buying and Selling at Sirius XM

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SIRI. Van ECK Associates Corp acquired a new stake in shares of Sirius XM in the 1st quarter valued at $2,036,000. Morningstar Investment Services LLC purchased a new stake in Sirius XM during the 4th quarter worth about $85,000. Assetmark Inc. increased 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 acquiring an additional 36,326 shares during the last quarter. Jump Financial LLC boosted its holdings in Sirius XM by 25.2% in the fourth 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, Boulder Hill Capital Management LP acquired a new stake in Sirius XM during the 4th quarter worth approximately $2,473,000. 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.