Sirius XM (NASDAQ:SIRI) Stock Price Up 13.9%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price rose 13.9% on Thursday . The company traded as high as $3.55 and last traded at $3.53. Approximately 74,830,299 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 57,014,828 shares. The stock had previously closed at $3.10.

Analyst Upgrades and Downgrades

SIRI has been the topic of a number of analyst reports. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and cut their price target for the company from $4.25 to $3.25 in a research report on Monday, June 24th. Wells Fargo & Company cut their price target on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. Pivotal Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Finally, Rosenblatt Securities dropped their target price on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Sirius XM has an average rating of “Hold” and a consensus price target of $4.11.

Sirius XM Stock Up 13.9 %

The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.01 and a beta of 1.08. The stock’s fifty day moving average price is $2.87 and its 200-day moving average price is $3.96.

Sirius XM (NASDAQ:SIRI) last posted 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 company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were paid a $0.0266 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.01%. Sirius XM’s dividend payout ratio is presently 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 on Wednesday, June 5th. The shares were sold at an average price of $2.62, for a total value of $32,797.16. Following the completion of the transaction, the director now directly owns 181,827 shares of the company’s stock, valued at $476,386.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in Sirius XM during the fourth quarter worth $27,000. First PREMIER Bank bought a new position in Sirius XM during the first quarter worth $31,000. First United Bank & Trust bought a new position in Sirius XM during the fourth quarter worth $37,000. TFO Wealth Partners LLC boosted its position in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after purchasing an additional 7,028 shares during the period. Finally, Graypoint LLC bought a new position in Sirius XM during the first quarter worth $39,000. 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.