Sirius XM (NASDAQ:SIRI) Sees Unusually-High Trading Volume

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares saw unusually-high trading volume on Wednesday . Approximately 1,750,425 shares were traded during mid-day trading, a decline of 32% from the previous session’s volume of 2,582,621 shares.The stock last traded at $27.22 and had previously closed at $27.38.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Barrington Research reissued an “outperform” rating and issued a $4.75 price objective on shares of Sirius XM in a research report on Monday, July 15th. Guggenheim cut 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Sirius XM from $3.75 to $3.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. StockNews.com started coverage on Sirius XM in a report on Monday, August 19th. They set a “hold” rating on the stock. Finally, Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and decreased their price target for the company from $4.25 to $3.25 in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and an average price target of $3.80.

Sirius XM Stock Down 9.9 %

The stock has a market cap of $98.17 billion, a P/E ratio of 77.33, a price-to-earnings-growth ratio of 0.88 and a beta of 1.08. The firm has a 50 day simple moving average of $4.73 and a 200-day simple moving average of $3.79.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. On average, equities analysts anticipate that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio is presently 30.30%.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the transaction, the insider now owns 989,331 shares in the company, valued at $3,126,285.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake 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 in the last quarter. Berkshire Hathaway Inc raised its position in shares of Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after buying an additional 30,559,834 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Sirius XM by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after buying an additional 218,211 shares during the period. Point72 Asset Management L.P. acquired a new stake in Sirius XM during the second quarter worth approximately $12,858,000. Finally, Dimensional Fund Advisors LP increased its stake in Sirius XM by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after acquiring an additional 353,860 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.