Sirius XM (NASDAQ:SIRI) Trading Down 2.8%

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) traded down 2.8% during trading on Tuesday . The stock traded as low as $24.81 and last traded at $24.88. 773,240 shares traded hands during trading, a decline of 74% from the average session volume of 2,949,032 shares. The stock had previously closed at $25.59.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and set a $47.50 price target on shares of Sirius XM in a report on Monday, July 15th. The Goldman Sachs Group dropped their price target on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. StockNews.com assumed coverage on shares of Sirius XM in a report on Wednesday, September 18th. They set a “hold” rating on the stock. Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, September 18th. Finally, Citigroup cut shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price objective on the stock. in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.75.

Sirius XM Stock Down 5.5 %

The business’s fifty day moving average is $31.07 and its two-hundred day moving average is $31.76. The stock has a market capitalization of $92.97 billion, a PE ratio of 77.56, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08.

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

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.266 per share. This represents a $1.06 annualized dividend and a yield of 4.40%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s payout ratio is presently 321.21%.

Insiders Place Their Bets

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM 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 directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by insiders.

Institutional Trading of Sirius XM

A number of large investors have recently made changes to their positions in SIRI. Van ECK Associates Corp bought a new stake in shares of Sirius XM in the 1st quarter valued at about $2,036,000. Morningstar Investment Services LLC acquired a new stake in shares of Sirius XM in the 4th quarter worth $85,000. Assetmark Inc. grew its stake in Sirius XM by 1,320.9% during the 4th quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock worth $214,000 after buying an additional 36,326 shares during the last quarter. Jump Financial LLC increased its position in Sirius XM by 25.2% during the 4th quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares in the last quarter. Finally, Boulder Hill Capital Management LP acquired a new stake in Sirius XM in the fourth quarter worth about $2,473,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

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.