Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) shares dropped 5.7% during trading on Thursday . The stock traded as low as $2.49 and last traded at $2.49. Approximately 7,107,499 shares traded hands during trading, a decline of 59% from the average daily volume of 17,539,484 shares. The stock had previously closed at $2.64.
Wall Street Analyst Weigh In
SIRI has been the subject of several analyst reports. Guggenheim initiated coverage on Sirius XM in a research note on Thursday, March 14th. They set a "neutral" rating and a $4.00 price objective for the company. Pivotal Research upgraded Sirius XM from a "hold" rating to a "buy" rating and dropped their target price for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. The Goldman Sachs Group upgraded Sirius XM from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $3.50 to $3.25 in a research report on Wednesday, May 1st. Benchmark dropped their target price on Sirius XM from $7.00 to $6.50 and set a "buy" rating on the stock in a research report on Wednesday, March 27th. Finally, Barrington Research reiterated an "outperform" rating and set a $4.75 target price on shares of Sirius XM in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $4.33.
View Our Latest Analysis on Sirius XM
Sirius XM Stock Performance
The business has a fifty day simple moving average of $3.00 and a 200 day simple moving average of $4.18. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 0.83 and a beta of 1.08.
Sirius XM (NASDAQ:SIRI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the company posted $0.06 EPS. The business's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.
Sirius XM Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were given a $0.0266 dividend. This represents a $0.11 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Thursday, May 9th. Sirius XM's dividend payout ratio (DPR) is currently 30.30%.
Insider Buying and Selling at Sirius XM
In other news, Director Kristina Salen sold 12,518 shares of the firm's stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the sale, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.
Institutional Trading of Sirius XM
Several large investors have recently modified their holdings of SIRI. Truvestments Capital LLC bought a new position in Sirius XM in the third quarter worth about $27,000. BKM Wealth Management LLC bought a new stake in shares of Sirius XM during the fourth quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in shares of Sirius XM during the first quarter valued at approximately $31,000. First United Bank & Trust bought a new stake in shares of Sirius XM during the fourth quarter valued at approximately $37,000. Finally, TFO Wealth Partners LLC raised its holdings in shares of Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company's stock valued at $38,000 after buying an additional 7,028 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.
Sirius XM Company Profile
(Get Free Report)
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.
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