Sirius XM (NASDAQ:SIRI) Stock Price Up 2.9%

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares were up 2.9% during trading on Friday . The stock traded as high as $2.84 and last traded at $2.81. Approximately 11,094,478 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 22,592,848 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and lowered their target price for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Wells Fargo & Company dropped their price objective on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their target price for the company from $4.25 to $3.25 in a report on Monday. StockNews.com began coverage on shares of Sirius XM in a research note on Monday. They set a “hold” rating on the stock. Finally, Barrington Research restated an “outperform” rating and issued a $4.75 price objective on shares of Sirius XM in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and an average price target of $4.11.

Sirius XM Stock Up 3.3 %

The stock has a fifty day simple moving average of $2.88 and a 200 day simple moving average of $4.05. The firm has a market capitalization of $10.85 billion, a P/E ratio of 8.52, a PEG ratio of 0.88 and a beta of 1.08.

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

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were issued a $0.0266 dividend. 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 3.77%. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $2.62, for a total value of $32,797.16. Following the completion of the sale, the director now directly owns 181,827 shares of the company’s stock, valued at approximately $476,386.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in shares of Sirius XM during the fourth quarter valued at $27,000. First PREMIER Bank purchased a new position in Sirius XM during the 1st quarter valued at about $31,000. First United Bank & Trust bought a new stake in shares of Sirius XM in the 4th quarter valued at about $37,000. TFO Wealth Partners LLC lifted its position in shares of Sirius XM by 140,560.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after purchasing an additional 7,028 shares during the period. Finally, Graypoint LLC bought a new position in shares of Sirius XM during the first quarter valued at approximately $39,000. 10.69% of the stock is owned by institutional investors.

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.