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

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

Analysts Set New Price Targets

SIRI has been the subject of several recent analyst reports. Barrington Research restated an “outperform” rating and issued a $4.75 target price on shares of Sirius XM in a research note on Tuesday, May 28th. StockNews.com started coverage on shares of Sirius XM in a research note on Wednesday. They set a “hold” rating for the company. Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. 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. Finally, Wells Fargo & Company lowered their price objective on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Sirius XM has a consensus rating of “Hold” and a consensus price target of $4.11.

Sirius XM Price Performance

The company’s fifty day moving average is $2.90 and its 200-day moving average is $3.90. The stock has a market cap of $13.54 billion, a PE ratio of 10.49, a PEG ratio of 1.06 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data 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. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were paid a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.02%. Sirius XM’s dividend payout ratio is currently 33.33%.

Insider Transactions 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 owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a 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

A number of institutional investors and hedge funds have recently bought and sold shares of SIRI. O Shaughnessy Asset Management LLC boosted its holdings in Sirius XM by 16.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock valued at $110,000 after purchasing an additional 3,495 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Sirius XM by 32.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 58,193 shares of the company’s stock valued at $263,000 after purchasing an additional 14,198 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Sirius XM by 4.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 397,768 shares of the company’s stock valued at $1,800,000 after purchasing an additional 17,673 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Sirius XM in the 3rd quarter valued at about $171,000. Finally, Banque Pictet & Cie SA boosted its holdings in Sirius XM by 9.1% in the 3rd quarter. Banque Pictet & Cie SA now owns 60,000 shares of the company’s stock valued at $271,000 after purchasing an additional 5,000 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.