Sirius XM (NASDAQ:SIRI) Stock Price Up 0.9%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price traded up 0.9% during trading on Wednesday . The stock traded as high as $3.69 and last traded at $3.46. 15,720,953 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 25,320,852 shares. The stock had previously closed at $3.43.

Analyst Ratings Changes

SIRI has been the subject of a number of recent analyst reports. Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Barrington Research restated an “outperform” rating and issued a $4.75 price objective on shares of Sirius XM in a report on Tuesday, May 28th. Guggenheim dropped their target price on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a report on Thursday, June 27th. StockNews.com initiated coverage on Sirius XM in a research note on Wednesday. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus target price of $4.11.

Sirius XM Trading Up 0.6 %

The firm’s fifty day simple moving average is $2.92 and its 200 day simple moving average is $3.90. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 1.15 and a beta of 1.08.

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

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were given a $0.0266 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 2.93%. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

Insiders Place Their Bets

In related news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the transaction, the director now directly owns 169,309 shares in the company, valued at approximately $440,203.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Sirius XM by 1.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock worth $3,120,000 after purchasing an additional 9,956 shares during the period. Van ECK Associates Corp acquired a new stake in Sirius XM in the first quarter valued at $2,036,000. Morningstar Investment Services LLC purchased a new stake in shares of Sirius XM during the 4th quarter worth $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 purchasing an additional 36,326 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in shares of 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 during the period. Hedge funds and other 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.