Sirius XM (NASDAQ:SIRI) Hits New 1-Year Low – What’s Next?

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $21.88 and last traded at $21.91, with a volume of 2065502 shares changing hands. The stock had previously closed at $22.64.

Wall Street Analyst Weigh In

SIRI has been the subject of several recent analyst reports. Morgan Stanley restated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Guggenheim reaffirmed a “buy” rating and set a $30.00 price target on shares of Sirius XM in a research report on Wednesday, December 11th. Rosenblatt Securities lifted their price target on shares of Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group cut their price target on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Six analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sirius XM has an average rating of “Hold” and a consensus target price of $28.27.

Sirius XM Stock Performance

The firm has a market capitalization of $7.34 billion, a PE ratio of -3.41 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a 50-day moving average price of $26.27 and a 200-day moving average price of $28.45.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.99%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, November 5th. Sirius XM’s dividend payout ratio is presently -17.03%.

Insider Transactions at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was bought at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the transaction, the insider now owns 108,719,088 shares in the company, valued at $2,712,541,245.60. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders purchased 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently modified their holdings of SIRI. Janus Henderson Group PLC bought a new position in Sirius XM during the third quarter valued at about $2,367,000. Savant Capital LLC acquired a new stake in shares of Sirius XM during the 2nd quarter valued at $613,000. FMR LLC boosted its stake in shares of Sirius XM by 472.6% during the 3rd quarter. FMR LLC now owns 497,514 shares of the company’s stock worth $11,766,000 after acquiring an additional 410,621 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Sirius XM in the 3rd quarter worth $5,489,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Sirius XM in the 3rd quarter valued at $921,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

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.