Sirius XM (NASDAQ:SIRI) Trading 1.1% Higher

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares traded up 1.1% during trading on Wednesday . The company traded as high as $2.73 and last traded at $2.69. 8,804,957 shares traded hands during trading, a decline of 60% from the average session volume of 22,224,408 shares. The stock had previously closed at $2.66.

Analyst Upgrades and Downgrades

SIRI has been the topic of several recent analyst reports. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and cut their price target for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Seaport Res Ptn upgraded Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and cut their price target for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. Rosenblatt Securities cut their price target on Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com initiated coverage on Sirius XM in a research note on Monday. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.21.

Sirius XM Stock Up 1.5 %

The stock has a market capitalization of $10.39 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 0.87 and a beta of 1.08. The business has a 50-day simple moving average of $2.89 and a two-hundred day simple moving average of $4.06.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is presently 33.33%.

Insider Transactions at Sirius XM

In other Sirius XM 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 completion of the transaction, the director now owns 169,309 shares in the company, valued at $440,203.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

Several hedge funds and other institutional investors have recently modified their holdings of the company. GM Advisory Group LLC grew its holdings in Sirius XM by 10.0% during the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock worth $120,000 after purchasing an additional 2,000 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Sirius XM by 20.5% during the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock worth $69,000 after acquiring an additional 2,139 shares during the period. D.A. Davidson & CO. raised its position in shares of Sirius XM by 14.8% in the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after buying an additional 2,183 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after buying an additional 2,300 shares in the last quarter. Finally, Gitterman Wealth Management LLC raised its position in Sirius XM by 7.2% during the fourth quarter. Gitterman Wealth Management LLC now owns 38,410 shares of the company’s stock valued at $210,000 after purchasing an additional 2,566 shares in the last quarter. Institutional investors and hedge funds 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.