Sirius XM (NASDAQ:SIRI) Shares Gap Up to $2.91

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares gapped up prior to trading on Thursday . The stock had previously closed at $2.91, but opened at $3.13. Sirius XM shares last traded at $3.14, with a volume of 8,883,571 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. 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. StockNews.com started coverage on Sirius XM in a research report on Sunday. They set a “hold” rating for the company. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and cut their target price for the company from $4.25 to $3.25 in a research note on Monday, June 24th. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. Finally, Citigroup lowered Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price target on the stock. in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.80.

Sirius XM Stock Up 5.2 %

The business has a 50-day moving average of $3.17 and a two-hundred day moving average of $3.56. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 1.06 and a beta of 1.08.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.0266 per share. The ex-dividend date is Friday, August 9th. This represents a $0.11 annualized dividend and a yield of 3.48%. Sirius XM’s dividend payout ratio is 30.30%.

Insider Transactions at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the completion of the sale, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Sirius XM news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $3.16, for a total value of $4,573,272.08. Following the sale, the insider now directly owns 989,331 shares in the company, valued at $3,126,285.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction on 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 directly owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The disclosure for this sale can be found here. Insiders have sold 1,472,274 shares of company stock valued at $4,638,616 in the last three months. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Large investors have recently made changes to their positions in the stock. Mather Group LLC. acquired a new position in shares of Sirius XM in the second quarter valued at $28,000. First PREMIER Bank bought a new stake in shares of Sirius XM in the 1st quarter valued at about $31,000. Walker Asset Management LLC acquired a new stake in shares of Sirius XM in the second quarter valued at about $33,000. Plato Investment Management Ltd bought a new position in shares of Sirius XM during the second quarter worth about $35,000. Finally, Riverview Capital Advisers LLC acquired a new position in shares of Sirius XM in the second quarter worth approximately $35,000. Institutional investors 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.