Sirius XM (NASDAQ:SIRI) Trading Up 2.9%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price was up 2.9% 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 Ratings Changes

Several analysts have recently weighed in on SIRI shares. Guggenheim lowered their target price on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Thursday. The Goldman Sachs Group raised shares of 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. StockNews.com started coverage on shares of Sirius XM in a report on Monday, June 24th. They set a “hold” rating on the stock. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and decreased their price objective for the stock from $4.25 to $3.25 in a report on Monday, June 24th. Finally, Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the stock 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 given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.11.

Sirius XM Stock Up 3.7 %

The company has a market cap of $10.89 billion, a PE ratio of 8.58, a P/E/G ratio of 0.89 and a beta of 1.08. The firm’s fifty day simple moving average is $2.87 and its 200-day simple moving average is $4.01.

Sirius XM (NASDAQ:SIRI) last announced its quarterly 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 net margin of 14.38% and a negative return on equity of 47.17%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts predict that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

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

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of the business’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 value of $32,546.80. Following the completion of the transaction, the director now owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of Sirius XM in the fourth quarter valued at approximately $27,000. First United Bank & Trust purchased a new position in Sirius XM during the fourth quarter worth approximately $37,000. TFO Wealth Partners LLC raised its stake 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 purchasing an additional 7,028 shares during the period. American National Bank purchased a new position in Sirius XM during the fourth quarter worth approximately $41,000. Finally, V Square Quantitative Management LLC raised its stake in Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after purchasing an additional 3,194 shares during the period. Institutional investors and hedge funds 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.