Sirius XM (NASDAQ:SIRI) Stock Price Up 0.3%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price shot up 0.3% during trading on Friday . The stock traded as high as $3.70 and last traded at $3.62. 6,949,736 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 25,477,189 shares. The stock had previously closed at $3.61.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SIRI. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and lowered their price objective for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. StockNews.com assumed coverage on Sirius XM in a report on Wednesday. They issued a “hold” rating for the company. Rosenblatt Securities dropped their target price on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Benchmark lowered their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $3.50 to $3.25 in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and an average price target of $4.11.

Sirius XM Stock Performance

The firm’s 50 day simple moving average is $2.92 and its 200-day simple moving average is $3.90. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 1.15 and a beta of 1.08.

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

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were issued a $0.0266 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a yield of 2.88%. Sirius XM’s dividend payout ratio is currently 33.33%.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now owns 169,309 shares in the company, valued at approximately $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after buying an additional 363,551 shares during the period. Berkshire Hathaway Inc boosted its stake in Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 buying an additional 218,211 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Sirius XM by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock worth $20,693,000 after buying an additional 143,185 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after buying an additional 768,570 shares during the last quarter. Institutional investors and hedge funds 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.