Sirius XM (NASDAQ:SIRI) Sees Large Volume Increase

Sirius XM Holdings Inc. (NASDAQ:SIRI) saw unusually-high trading volume on Wednesday . Approximately 9,339,064 shares traded hands during mid-day trading, a decline of 60% from the previous session’s volume of 23,629,559 shares.The stock last traded at $3.36 and had previously closed at $3.10.

Wall Street Analyst Weigh In

SIRI has been the subject of a number of analyst reports. Rosenblatt Securities decreased their price target on Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. StockNews.com initiated coverage on Sirius XM in a report on Tuesday. They issued a “hold” rating for the company. Benchmark decreased their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and reduced their target price for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. One investment 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 has an average rating of “Hold” and a consensus target price of $4.11.

Sirius XM Trading Up 6.5 %

The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.08. The company has a 50-day moving average of $2.86 and a 200-day moving average of $3.97.

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

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were given a $0.0266 dividend. This represents a $0.11 annualized dividend and a yield of 3.22%. The ex-dividend date was Thursday, May 9th. Sirius XM’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total value of $32,546.80. Following the sale, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new stake in shares of Sirius XM during the fourth quarter valued at about $27,000. First United Bank & Trust bought a new stake in shares of Sirius XM during the fourth quarter valued at about $37,000. TFO Wealth Partners LLC raised its stake in shares of Sirius XM by 140,560.0% during 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. American National Bank bought a new stake in shares of Sirius XM during the fourth quarter valued at about $41,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after purchasing an additional 3,194 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Company Profile

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.