Sirius XM (NASDAQ:SIRI) Shares Gap Up – What’s Next?

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 changing hands.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SIRI shares. Bank of America reiterated an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research report on Thursday, October 24th. The Goldman Sachs Group lowered their target price on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Seaport Res Ptn cut shares of Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barrington Research decreased their price target on shares of Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Finally, Pivotal Research cut their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average target price of $27.58.

Sirius XM Price Performance

The firm has a market cap of $7.83 billion, a P/E ratio of -3.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50-day simple moving average is $26.16 and its two-hundred day simple moving average is $28.38.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were given a $0.27 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Tuesday, November 5th. Sirius XM’s dividend payout ratio is -17.03%.

Insider Buying and Selling at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.83 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 2,646,761 shares of company stock worth $65,952,329 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds have recently added to or reduced their stakes in SIRI. Point72 Asset Management L.P. bought a new position in Sirius XM in the second quarter worth approximately $12,858,000. Sessa Capital IM L.P. purchased a new position in shares of Sirius XM during the third quarter valued at $77,983,000. Thompson Siegel & Walmsley LLC bought a new stake in shares of Sirius XM in the third quarter valued at about $67,598,000. Seizert Capital Partners LLC purchased a new stake in Sirius XM in the third quarter worth about $46,173,000. Finally, Cubist Systematic Strategies LLC bought a new position in Sirius XM during the 2nd quarter worth about $5,192,000. 10.69% of the stock is currently owned by 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.