Sirius XM (NASDAQ:SIRI) Shares Gap Up – Should You Buy?

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $20.58, but opened at $21.15. Sirius XM shares last traded at $21.82, with a volume of 795,384 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on SIRI. Guggenheim reiterated a “buy” rating and issued a $30.00 price objective on shares of Sirius XM in a report on Wednesday, December 11th. StockNews.com started coverage on shares of Sirius XM in a report on Wednesday, November 13th. They set a “sell” rating on the stock. Morgan Stanley restated an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. The Goldman Sachs Group cut their price target on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Benchmark restated a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $27.58.

Sirius XM Stock Up 8.9 %

The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $7.60 billion, a PE ratio of -3.53 and a beta of 1.03. The firm’s fifty day moving average is $26.20 and its 200-day moving average is $28.39.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.82%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, November 5th. Sirius XM’s dividend payout ratio is -17.03%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was acquired at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the acquisition, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. This trade represents a 1.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 2,646,761 shares of company stock valued at $65,952,329 in the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

A number of institutional investors have recently added to or reduced their stakes in the stock. Towerview LLC purchased a new stake in shares of Sirius XM in the second quarter valued at about $57,000. Atomi Financial Group Inc. increased its stake in Sirius XM by 42.5% in the second quarter. Atomi Financial Group Inc. now owns 26,713 shares of the company’s stock valued at $76,000 after purchasing an additional 7,964 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in Sirius XM by 58.6% during the second quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock worth $6,911,000 after buying an additional 902,079 shares during the period. Hantz Financial Services Inc. acquired a new stake in Sirius XM in the 2nd quarter worth about $58,000. Finally, Commonwealth Equity Services LLC grew its holdings in Sirius XM by 13.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 895,927 shares of the company’s stock valued at $2,535,000 after buying an additional 108,071 shares during the period. Hedge funds and other 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.