Sirius XM (NASDAQ:SIRI) Shares Up 2.9%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price rose 2.9% during trading on Friday . The company traded as high as $2.84 and last traded at $2.81. Approximately 11,094,478 shares changed hands during 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

A number of equities research analysts have commented on the company. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and reduced their price target for the company from $3.50 to $3.25 in a research report on Wednesday, May 1st. Wells Fargo & Company decreased their target price on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Wednesday, May 1st. Benchmark dropped their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Guggenheim decreased their price objective on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a research report on Thursday. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.11.

Sirius XM Stock Performance

The business has a fifty day moving average of $2.88 and a 200-day moving average of $4.05. The company has a market capitalization of $10.85 billion, a P/E ratio of 8.52, a PEG ratio of 0.88 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company earned $0.06 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were given a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.77%. Sirius XM’s payout ratio is 33.33%.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after purchasing an additional 363,551 shares during the period. Berkshire Hathaway Inc grew its position in shares of Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after acquiring an additional 30,559,834 shares during the period. AQR Capital Management LLC increased its stake in shares of Sirius XM by 482.9% during the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after purchasing an additional 12,129,166 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after purchasing an additional 1,776,700 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Sirius XM by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after purchasing an additional 218,211 shares during the period. Hedge funds and other institutional investors 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.