Sirius XM (NASDAQ:SIRI) Trading Down 10.8%

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares fell 10.8% on Monday . The company traded as low as $3.25 and last traded at $3.31. 16,622,908 shares were traded during mid-day trading, a decline of 33% from the average session volume of 24,839,387 shares. The stock had previously closed at $3.71.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SIRI. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $3.50 to $3.25 in a research note on Wednesday, May 1st. Rosenblatt Securities reduced 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 report on Wednesday, May 1st. Wells Fargo & Company reduced their price target on shares of Sirius XM from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their price target for the company from $4.25 to $3.25 in a research report on Monday, June 24th. Finally, Benchmark reduced their price target on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.11.

Sirius XM Price Performance

The company’s 50 day simple moving average is $2.90 and its 200 day simple moving average is $3.90. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 1.06 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. As a group, analysts forecast that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were paid a $0.0266 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.03%. Sirius XM’s dividend payout ratio (DPR) is 30.30%.

Insider Transactions at Sirius XM

In other 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 sale, the director now directly owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several institutional investors have recently modified their holdings of SIRI. Berkshire Hathaway Inc lifted its position in shares of Sirius XM by 315.6% during 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 position in Sirius XM by 516.5% in the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock valued at $6,212,000 after acquiring an additional 1,341,352 shares during the last quarter. ProShare Advisors LLC lifted its position in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after acquiring an additional 768,570 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Sirius XM in the first quarter valued at $2,036,000. Finally, Boulder Hill Capital Management LP purchased a new stake in Sirius XM in the fourth quarter valued at $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.