Sirius XM (NASDAQ:SIRI) Trading 3.5% Higher

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares traded up 3.5% during trading on Monday . The company traded as high as $4.14 and last traded at $4.13. 1,372,438 shares changed hands during trading, a decline of 92% from the average session volume of 18,219,400 shares. The stock had previously closed at $3.99.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Rosenblatt Securities upped their target price on Sirius XM from $4.10 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th. Evercore ISI cut Sirius XM from an “in-line” rating to an “underperform” rating and set a $4.50 price objective on the stock. in a research note on Friday, July 21st. Benchmark increased their price objective on Sirius XM from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Pivotal Research raised Sirius XM from a “sell” rating to a “hold” rating and increased their price objective for the stock from $4.50 to $5.00 in a research note on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Sirius XM from a “sell” rating to a “hold” rating and dropped their price objective for the stock from $6.25 to $6.00 in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.10.

Sirius XM Price Performance

The business has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $4.16. The company has a market cap of $15.83 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.82 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Sirius XM had a negative return on equity of 35.83% and a net margin of 12.90%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.25 billion. On average, equities research analysts predict that Sirius XM Holdings Inc. will post 0.3 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 8th were issued a dividend of $0.0242 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.10 annualized dividend and a dividend yield of 2.35%. Sirius XM’s dividend payout ratio is presently 34.48%.

Insider Buying and Selling

In other news, CEO Jennifer C. Witz bought 250,000 shares of Sirius XM stock in a transaction that occurred on Monday, August 28th. The stock was bought at an average price of $4.11 per share, for a total transaction of $1,027,500.00. Following the purchase, the chief executive officer now directly owns 2,812,000 shares of the company’s stock, valued at approximately $11,557,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. PNC Financial Services Group Inc. raised its stake in Sirius XM by 1.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company’s stock worth $989,000 after acquiring an additional 1,845 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in Sirius XM during the 1st quarter worth about $115,000. Rhumbline Advisers grew its position in Sirius XM by 0.5% during the 1st quarter. Rhumbline Advisers now owns 1,050,105 shares of the company’s stock worth $6,952,000 after purchasing an additional 4,947 shares during the period. Allianz Asset Management GmbH grew its position in Sirius XM by 49.7% during the 1st quarter. Allianz Asset Management GmbH now owns 47,596 shares of the company’s stock worth $315,000 after purchasing an additional 15,809 shares during the period. Finally, Prudential PLC acquired a new stake in Sirius XM during the 1st quarter worth about $293,000. Hedge funds and other institutional investors own 10.50% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, 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 system and streamed via applications for mobile and home devices, and other consumer electronic equipment.