Sirius XM (NASDAQ:SIRI) Trading Down 10.8%

Sirius XM Holdings Inc. (NASDAQ:SIRI) traded down 10.8% during trading on Monday . The company traded as low as $3.25 and last traded at $3.31. 16,622,908 shares were traded during mid-day trading, a decline of 33% from the average session volume of 24,839,387 shares. The stock had previously closed at $3.71.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com assumed coverage on shares of Sirius XM in a research report on Tuesday, July 2nd. They issued a “hold” rating on the stock. Rosenblatt Securities cut their price target on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and cut their target price for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. Guggenheim decreased 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, June 27th. Finally, Citigroup raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average price target of $4.11.

Sirius XM Stock Performance

The stock has a market cap of $12.46 billion, a PE ratio of 10.03, a PEG ratio of 1.21 and a beta of 1.08. The business has a 50-day moving average of $2.89 and a 200 day moving average of $3.93.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned $0.06 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts expect that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were issued a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, May 9th. Sirius XM’s dividend payout ratio is presently 33.33%.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the completion of the transaction, the director now owns 169,309 shares in the company, valued at approximately $440,203.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Sirius XM by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc increased its position in Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares during the period. Charles Schwab Investment Management Inc. increased its position in Sirius XM by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after buying an additional 218,211 shares during the period. Dimensional Fund Advisors LP increased its position in Sirius XM by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock worth $20,693,000 after buying an additional 143,185 shares during the period. Finally, ProShare Advisors LLC increased its position in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after buying an additional 768,570 shares during the period. 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.