Sirius XM (NASDAQ:SIRI) Trading 0.4% Higher

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares rose 0.4% during mid-day trading on Thursday . The company traded as high as $2.72 and last traded at $2.71. Approximately 5,185,623 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 22,464,301 shares. The stock had previously closed at $2.70.

Analyst Ratings Changes

A number of research analysts have commented on SIRI shares. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Wells Fargo & Company dropped their price target on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Guggenheim dropped 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. Finally, Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and reduced their target price for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.11.

Sirius XM Stock Up 3.7 %

The firm has a market capitalization of $10.89 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.08. The company’s 50 day moving average is $2.87 and its 200-day moving average is $4.02.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company 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 firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. On average, analysts predict that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal 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 issued a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Thursday, May 9th. 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 business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the sale, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake 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 valued at $3,120,000 after acquiring an additional 9,956 shares in the last quarter. Morningstar Investment Services LLC bought a new position in shares of Sirius XM during the fourth quarter valued at about $85,000. Northern Trust Corp boosted its holdings in Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after purchasing an additional 1,776,700 shares during the last quarter. Assetmark Inc. grew its position in Sirius XM by 1,320.9% in the 4th quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock worth $214,000 after purchasing an additional 36,326 shares in the last quarter. Finally, Jump Financial LLC increased its stake in Sirius XM by 25.2% in the 4th quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares during the last quarter. 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.