Sirius XM (NASDAQ:SIRI) Shares Up 0.4%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price rose 0.4% during trading on Thursday . The company traded as high as $2.72 and last traded at $2.71. Approximately 5,185,623 shares changed 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

Several analysts have recently issued reports on SIRI shares. Rosenblatt Securities decreased their target price on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Benchmark dropped their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Guggenheim decreased their price target on Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped 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 research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.11.

Sirius XM Trading Up 3.7 %

The stock 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 has a 50-day moving average price of $2.87 and a 200 day moving average price of $4.02.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping 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 business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $0.06 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. As a group, research analysts expect that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were issued a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.76%. Sirius XM’s dividend payout ratio is presently 33.33%.

Insider Transactions at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. BKM Wealth Management LLC purchased a new stake in shares of Sirius XM during the fourth quarter worth $27,000. First PREMIER Bank acquired a new position in shares of Sirius XM during the 1st quarter worth approximately $31,000. First United Bank & Trust purchased a new stake in shares of Sirius XM in the fourth quarter valued at approximately $37,000. TFO Wealth Partners LLC lifted its position in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after buying an additional 7,028 shares in the last quarter. Finally, Graypoint LLC purchased a new stake in Sirius XM in the 1st quarter valued at $39,000. 10.69% of the stock is owned by hedge funds and other 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.