Sirius XM (NASDAQ:SIRI) Shares Down 6.9%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price dropped 6.9% during trading on Thursday . The stock traded as low as $26.32 and last traded at $26.37. Approximately 1,022,748 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 2,632,263 shares. The stock had previously closed at $28.31.

Analysts Set New Price Targets

SIRI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their target price for the company from $4.25 to $3.25 in a research note on Monday, June 24th. Barrington Research restated an “outperform” rating and issued a $4.75 target price on shares of Sirius XM in a research note on Monday, July 15th. Citigroup downgraded shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price target on the stock. in a research report on Thursday, July 25th. Finally, Guggenheim reduced their price target on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Two 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, the company presently has a consensus rating of “Hold” and an average target price of $3.80.

Sirius XM Trading Down 4.0 %

The firm’s 50 day moving average is $5.15 and its two-hundred day moving average is $3.93. The firm has a market cap of $94.28 billion, a P/E ratio of 74.27, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Analysts predict that Sirius XM Holdings Inc. will post 3.14 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.0266 per share. The ex-dividend date was Friday, August 9th. This represents a $0.11 annualized dividend and a yield of 0.43%. Sirius XM’s dividend payout ratio (DPR) is currently 321.21%.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 1,447,238 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the sale, the insider now directly owns 989,331 shares in the company, valued at approximately $3,126,285.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently made changes to their positions in SIRI. Natixis Advisors L.P. bought a new position in shares of Sirius XM in the fourth quarter valued at $271,000. Private Advisor Group LLC grew its stake in shares of Sirius XM by 10.3% in the fourth quarter. Private Advisor Group LLC now owns 91,433 shares of the company’s stock valued at $500,000 after buying an additional 8,530 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Sirius XM by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after buying an additional 218,211 shares in the last quarter. Jump Financial LLC grew its stake in shares of Sirius XM by 25.2% in the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Sirius XM by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock valued at $20,693,000 after buying an additional 143,185 shares in the last quarter. 10.69% of the stock is owned by institutional investors.

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.