Sirius XM (NASDAQ:SIRI) Sets New 52-Week Low at $23.89

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price objective for the company from $42.50 to $32.50 in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Citigroup downgraded shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price target for the company. in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group reduced their price objective on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Sirius XM presently has an average rating of “Hold” and a consensus target price of $36.91.

Sirius XM Trading Down 1.6 %

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 stock has a fifty day simple moving average of $32.06 and a 200-day simple moving average of $32.25.

Sirius XM (NASDAQ:SIRI) last announced 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 company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. As a group, equities research analysts predict that Sirius XM Holdings Inc. will post 3.14 EPS for the current 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 given a $0.266 dividend. The ex-dividend date was Friday, August 9th. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a yield of 4.57%. Sirius XM’s payout ratio is 321.21%.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’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 transaction of $4,573,246.80. Following 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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of large investors have recently bought and sold shares of SIRI. Mather Group LLC. purchased a new stake in shares of Sirius XM in the second quarter valued at about $28,000. First PREMIER Bank purchased a new stake in Sirius XM in the 1st quarter valued at approximately $31,000. Walker Asset Management LLC acquired a new position in Sirius XM during the 2nd quarter worth approximately $33,000. Plato Investment Management Ltd purchased a new position in shares of Sirius XM during the 2nd quarter worth approximately $35,000. Finally, Riverview Capital Advisers LLC acquired a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $35,000. 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.