Sirius XM (NASDAQ:SIRI) Sets New 12-Month Low at $22.72

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price reached a new 52-week low on Tuesday . The company traded as low as $22.72 and last traded at $22.83, with a volume of 1939572 shares traded. The stock had previously closed at $23.65.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Barrington Research reissued an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a report on Monday, July 15th. Morgan Stanley restated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. Finally, Rosenblatt Securities raised their price objective on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Sirius XM currently has an average rating of “Hold” and an average price target of $34.27.

Sirius XM Trading Down 3.8 %

The company has a market cap of $87.55 billion, a price-to-earnings ratio of 68.76, a PEG ratio of 0.83 and a beta of 1.08. The business has a fifty day moving average of $29.88 and a two-hundred day moving average of $31.15.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results 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 net margin of 14.56% and a negative return on equity of 52.15%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. On average, research analysts forecast that Sirius XM Holdings Inc. will post 3.08 EPS for the current fiscal year.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.266 per share. The ex-dividend date was Friday, August 9th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.67%. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s payout ratio is 321.21%.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’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 transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Sirius XM by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock valued at $20,693,000 after purchasing an additional 143,185 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Sirius XM by 84.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 65,610 shares of the company’s stock valued at $359,000 after acquiring an additional 29,981 shares during the last quarter. TD Asset Management Inc grew its position in shares of Sirius XM by 8.5% in the fourth quarter. TD Asset Management Inc now owns 369,298 shares of the company’s stock valued at $2,020,000 after purchasing an additional 29,086 shares during the period. Treasurer of the State of North Carolina increased its stake in Sirius XM by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 299,611 shares of the company’s stock valued at $1,639,000 after purchasing an additional 2,853 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its position in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after buying an additional 7,028 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.