Sirius XM (NASDAQ:SIRI) Stock Price Up 0.9%

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares rose 0.9% on Wednesday . The stock traded as high as $3.69 and last traded at $3.46. Approximately 15,720,953 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 25,320,852 shares. The stock had previously closed at $3.43.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SIRI. Rosenblatt Securities dropped their price target on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. The Goldman Sachs Group upgraded Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Benchmark decreased their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and cut their price objective for the company from $4.25 to $3.25 in a research report on Monday, June 24th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $4.75 target price on shares of Sirius XM in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.11.

Sirius XM Stock Up 0.6 %

The company has a market capitalization of $13.96 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.15 and a beta of 1.08. The stock’s fifty day moving average price is $2.92 and its two-hundred day moving average price is $3.90.

Sirius XM (NASDAQ:SIRI) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts forecast that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Thursday, May 9th. Sirius XM’s payout ratio is presently 33.33%.

Insider Transactions at Sirius XM

In related news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the sale, the director now owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc raised its position in shares of Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after purchasing an additional 30,559,834 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Sirius XM by 516.5% in the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after buying an additional 1,341,352 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after buying an additional 768,570 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Sirius XM during the first quarter valued at approximately $2,036,000. Finally, Boulder Hill Capital Management LP purchased a new position in Sirius XM in the 4th quarter worth approximately $2,473,000. Hedge funds and other institutional investors 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.