Sirius XM (NASDAQ:SIRI) Trading Up 6.6%

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) were up 6.6% on Tuesday . The company traded as high as $3.75 and last traded at $3.72. Approximately 12,107,266 shares were traded during trading, a decline of 54% from the average daily volume of 26,066,738 shares. The stock had previously closed at $3.49.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SIRI shares. Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and reduced their target price for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $3.50 to $3.25 in a report on Wednesday, May 1st. Guggenheim cut their price target on Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Barrington Research restated an “outperform” rating and issued a $4.75 price target on shares of Sirius XM in a research note on Monday, July 15th. Finally, 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Sirius XM has an average rating of “Hold” and an average price target of $4.11.

Sirius XM Trading Up 8.9 %

The firm has a 50 day simple moving average of $3.00 and a 200 day simple moving average of $3.79. The firm has a market capitalization of $14.62 billion, a PE ratio of 11.39, a P/E/G ratio of 1.11 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. Research analysts forecast that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were issued 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 2.80%. Sirius XM’s payout ratio is 33.33%.

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of the stock in a transaction on Wednesday, June 12th. The stock was 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 approximately $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Sirius XM by 0.7% in 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 raised its holdings in Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after purchasing an additional 30,559,834 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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. Dimensional Fund Advisors LP raised its holdings in Sirius XM by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock worth $20,693,000 after purchasing an additional 143,185 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Sirius XM by 25.8% in the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after purchasing an additional 768,570 shares during the period. 10.69% of the stock is owned by institutional investors.

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.