Sirius XM (NASDAQ:SIRI) Sees Strong Trading Volume

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) saw unusually-high trading volume on Monday . Approximately 1,647,818 shares were traded during mid-day trading, a decline of 43% from the previous session’s volume of 2,912,549 shares.The stock last traded at $25.85 and had previously closed at $24.95.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SIRI shares. The Goldman Sachs Group decreased their target price on Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, September 17th. Citigroup downgraded Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price target for the company. in a report on Thursday, July 25th. Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, September 18th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their target price for the stock from $42.50 to $32.50 in a research note on Monday, June 24th. Finally, Rosenblatt Securities boosted their price target on shares of Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $36.91.

Sirius XM Stock Performance

The company has a market cap of $98.32 billion, a PE ratio of 75.36, a PEG ratio of 0.90 and a beta of 1.08. The business’s 50-day moving average is $31.34 and its 200 day moving average is $31.87.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Equities research analysts anticipate that Sirius XM Holdings Inc. will post 3.14 EPS for the current fiscal year.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.266 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.16%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio is 321.21%.

Insider Buying and Selling

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mather Group LLC. bought a new stake in shares of Sirius XM during the second quarter worth $28,000. First PREMIER Bank purchased a new stake in Sirius XM in the 1st quarter valued at about $31,000. Walker Asset Management LLC bought a new position in Sirius XM in the 2nd quarter worth about $33,000. Plato Investment Management Ltd bought a new stake in shares of Sirius XM in the second quarter valued at about $35,000. Finally, Riverview Capital Advisers LLC purchased a new stake in Sirius XM in the second quarter worth about $35,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

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.