Sirius XM (NASDAQ:SIRI) Sets New 1-Year Low at $23.89

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) reached a new 52-week low during trading on Monday . The stock traded as low as $23.89 and last traded at $23.99, with a volume of 767163 shares changing hands. The stock had previously closed at $24.51.

Analysts Set New Price Targets

SIRI has been the subject of several research reports. Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and cut their price objective for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Citigroup cut Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price target for the company. in a report on Thursday, July 25th. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Finally, Barrington Research restated an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.91.

Sirius XM Stock Performance

The company has a market capitalization of $89.51 billion, a PE ratio of 70.52, a P/E/G ratio of 0.90 and a beta of 1.08. The business has a fifty day moving average price of $32.06 and a 200 day moving average price of $32.25.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Research analysts forecast that Sirius XM Holdings Inc. will post 3.14 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.266 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a yield of 4.57%. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio is currently 321.21%.

Insider Activity

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 363,551 shares during the last quarter. 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 acquiring an additional 30,559,834 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Sirius XM by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after acquiring an additional 218,211 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Sirius XM during the 2nd quarter worth $12,858,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 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.