Sirius XM (NASDAQ:SIRI) Trading Down 5.4%

Sirius XM Holdings Inc. (NASDAQ:SIRI) traded down 5.4% during mid-day trading on Tuesday . The stock traded as low as $4.84 and last traded at $4.86. 3,913,370 shares were traded during mid-day trading, a decline of 78% from the average session volume of 17,425,436 shares. The stock had previously closed at $5.14.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Sirius XM from a “sell” rating to a “hold” rating and lowered their price target for the company from $6.25 to $6.00 in a research report on Wednesday, August 2nd. Seaport Res Ptn lowered shares of Sirius XM from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. Pivotal Research decreased their target price on shares of Sirius XM from $5.00 to $4.75 in a report on Tuesday, September 26th. StockNews.com initiated coverage on shares of Sirius XM in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company upped their target price on shares of Sirius XM from $4.75 to $5.50 and gave the stock an “equal weight” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.02.

Sirius XM Stock Performance

The company has a market cap of $18.81 billion, a PE ratio of 15.19, a PEG ratio of 2.55 and a beta of 1.03. The stock’s 50 day moving average price is $4.48 and its 200-day moving average price is $4.37.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Sirius XM had a net margin of 14.20% and a negative return on equity of 40.30%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. On average, analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 7th will be given a $0.0266 dividend. This is a boost from Sirius XM’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Monday, November 6th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 2.17%. Sirius XM’s payout ratio is presently 31.25%.

Insider Buying and Selling at Sirius XM

In other news, CEO Jennifer C. Witz acquired 250,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were purchased at an average price of $4.11 per share, for a total transaction of $1,027,500.00. Following the completion of the transaction, the chief executive officer now owns 2,812,000 shares of the company’s stock, valued at $11,557,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds have recently modified their holdings of the company. Berkshire Hathaway Inc purchased a new position in shares of Sirius XM in the third quarter valued at about $43,768,000. Creative Planning increased its position in shares of Sirius XM by 47.7% during the third quarter. Creative Planning now owns 779,457 shares of the company’s stock valued at $3,523,000 after buying an additional 251,873 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in Sirius XM during the third quarter worth about $64,000. Integrated Wealth Concepts LLC boosted its stake in Sirius XM by 12.5% during the third quarter. Integrated Wealth Concepts LLC now owns 23,313 shares of the company’s stock worth $105,000 after acquiring an additional 2,583 shares in the last quarter. Finally, Townsquare Capital LLC bought a new stake in Sirius XM during the third quarter worth about $122,000. Hedge funds and other institutional investors own 10.50% of the company’s stock.

Sirius XM Company Profile

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.