Sirius XM (NASDAQ:SIRI) Sets New 1-Year Low – Time to Sell?

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) hit a new 52-week low during trading on Tuesday . The stock traded as low as $21.88 and last traded at $21.91, with a volume of 2065502 shares. The stock had previously closed at $22.64.

Wall Street Analyst Weigh In

Several brokerages have commented on SIRI. Pivotal Research dropped their target price on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, November 1st. StockNews.com initiated coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating on the stock. 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. Citigroup increased their price target on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Finally, Bank of America reaffirmed an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Sirius XM currently has an average rating of “Hold” and an average price target of $28.27.

Sirius XM Trading Down 2.5 %

The business’s 50-day moving average is $26.34 and its 200 day moving average is $28.54. The firm has a market capitalization of $7.49 billion, a P/E ratio of -3.53 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.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.27 per share. The ex-dividend date was Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 4.89%. Sirius XM’s dividend payout ratio (DPR) is currently -17.03%.

Insider Transactions at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the purchase, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.83 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Advisors LLC boosted its position in Sirius XM by 102.8% during the first quarter. Cetera Advisors LLC now owns 36,295 shares of the company’s stock valued at $141,000 after acquiring an additional 18,401 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new stake in Sirius XM in the second quarter worth approximately $113,000. Towerview LLC acquired a new position in Sirius XM in the second quarter valued at approximately $57,000. Atomi Financial Group Inc. boosted its holdings in shares of Sirius XM by 42.5% during the 2nd quarter. Atomi Financial Group Inc. now owns 26,713 shares of the company’s stock worth $76,000 after buying an additional 7,964 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of Sirius XM by 58.6% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock valued at $6,911,000 after acquiring an additional 902,079 shares in the last quarter. 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.