Sirius XM (NASDAQ:SIRI) Shares Gap Down to $3.72

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) gapped down prior to trading on Monday . The stock had previously closed at $3.72, but opened at $3.64. Sirius XM shares last traded at $3.58, with a volume of 454,603 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on SIRI. Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $3.50 to $3.25 in a report on Wednesday, May 1st. Barrington Research restated an “outperform” rating and set a $4.75 target price on shares of Sirius XM in a report on Monday, July 15th. Wells Fargo & Company dropped their target price on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Finally, Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and decreased their price target for the stock from $4.25 to $3.25 in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sirius XM has an average rating of “Hold” and an average price target of $4.07.

Sirius XM Price Performance

The firm’s 50 day moving average is $3.06 and its two-hundred day moving average is $3.74. The firm has a market capitalization of $13.85 billion, a P/E ratio of 11.27, a PEG ratio of 1.21 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the business earned $0.06 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be given a dividend of $0.0266 per share. The ex-dividend date is Friday, August 9th. This represents a $0.11 dividend on an annualized basis and a yield of 2.96%. Sirius XM’s dividend payout ratio (DPR) is 33.33%.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Hedge funds and other institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Sirius XM during the second quarter worth $28,000. First PREMIER Bank acquired a new position in Sirius XM in the first quarter valued at about $31,000. Walker Asset Management LLC acquired a new position in Sirius XM in the second quarter valued at about $33,000. First United Bank & Trust acquired a new position in Sirius XM in the fourth quarter valued at about $37,000. Finally, TFO Wealth Partners LLC raised its stake in Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after purchasing an additional 7,028 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.