Sirius XM (NASDAQ:SIRI) Hits New 1-Year High – What’s Next?

Sirius XM Holdings Inc. (NASDAQ:SIRI) reached a new 52-week high during trading on Wednesday . The company traded as high as $30.15 and last traded at $30.0920, with a volume of 1486398 shares trading hands. The stock had previously closed at $29.54.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SIRI. Citigroup restated a “sell” rating and set a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research report on Monday, May 4th. Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Barrington Research raised their price target on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Evercore set a $28.00 price target on shares of Sirius XM in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus target price of $27.45.

Sirius XM Stock Up 1.6%

The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.63 and a beta of 0.96. The firm’s fifty day moving average price is $27.64 and its two-hundred day moving average price is $23.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts forecast that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, May 11th. Sirius XM’s dividend payout ratio (DPR) is currently 45.57%.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the transaction, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.27% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in shares of Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after acquiring an additional 794 shares during the last quarter. Root Financial Partners LLC increased its holdings in Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after buying an additional 1,195 shares during the last quarter. Rossby Financial LCC grew its position in shares of Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after acquiring an additional 593 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Sirius XM during the 1st quarter worth approximately $33,000. Finally, Altshuler Shaham Ltd raised its holdings in shares of Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after purchasing an additional 417 shares during the period. 10.69% of the stock is owned by institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.