Sirius XM (NASDAQ:SIRI) Trading Up 3.1%

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) were up 3.1% during mid-day trading on Thursday . The stock traded as high as $3.70 and last traded at $3.62. Approximately 11,004,272 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 25,409,273 shares. The stock had previously closed at $3.51.

Analyst Ratings Changes

A number of research firms recently issued reports on SIRI. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Guggenheim cut their price objective on Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a report on Thursday, June 27th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and lowered their target price for the stock from $4.25 to $3.25 in a report on Monday, June 24th. Rosenblatt Securities cut 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. Finally, Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $4.11.

Sirius XM Stock Up 2.8 %

The firm has a 50 day moving average of $2.91 and a 200-day moving average of $3.90. The firm has a market capitalization of $13.89 billion, a P/E ratio of 10.97, a PEG ratio of 1.06 and a beta of 1.08.

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

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were issued a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 30.30%.

Insider Activity at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new stake in shares of Sirius XM during the fourth quarter worth $27,000. First United Bank & Trust acquired a new position in Sirius XM in the 4th quarter worth about $37,000. TFO Wealth Partners LLC raised its position in Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after purchasing an additional 7,028 shares during the last quarter. American National Bank acquired a new stake in shares of Sirius XM during the fourth quarter valued at about $41,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after purchasing an additional 3,194 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.