Short Interest in Sirius XM Holdings Inc. (NASDAQ:SIRI) Rises By 38.4%

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 22,540,000 shares, a growth of 38.4% from the October 15th total of 16,290,000 shares. Based on an average daily trading volume, of 5,750,000 shares, the short-interest ratio is presently 3.9 days. Currently, 6.7% of the shares of the company are sold short.

Sirius XM Price Performance

Shares of SIRI stock traded down $1.23 during mid-day trading on Friday, reaching $25.80. The stock had a trading volume of 5,322,509 shares, compared to its average volume of 3,557,757. The company has a market cap of $8.75 billion, a P/E ratio of -4.07 and a beta of 1.04. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The business has a 50-day simple moving average of $25.61 and a 200 day simple moving average of $29.06.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.08 dividend on an annualized basis and a yield of 4.19%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is presently -17.03%.

Insider Transactions at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.83 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders acquired 2,646,761 shares of company stock worth $65,952,329. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several large investors have recently modified their holdings of SIRI. Coston McIsaac & Partners boosted its stake in shares of Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after acquiring an additional 624 shares during the last quarter. TCTC Holdings LLC purchased a new position in Sirius XM in the 3rd quarter valued at about $29,000. Bfsg LLC boosted its stake in shares of Sirius XM by 35.3% during the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after purchasing an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Sirius XM by 139.8% in the third quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock valued at $75,000 after buying an additional 1,858 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. StockNews.com started coverage on Sirius XM in a report on Wednesday. They issued a “sell” rating on the stock. The Goldman Sachs Group cut their target price on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, Barrington Research reiterated an “outperform” rating and issued a $40.00 price objective on shares of Sirius XM in a research report on Monday, November 4th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.96.

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.