Sirius XM (NASDAQ:SIRI) Trading Down 5.1%

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s share price fell 5.1% during mid-day trading on Wednesday . The stock traded as low as $2.96 and last traded at $2.96. 16,281,892 shares were traded during trading, a decline of 35% from the average session volume of 25,043,160 shares. The stock had previously closed at $3.12.

Wall Street Analyst Weigh In

Several research firms have commented on SIRI. Citigroup lowered shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price objective on the stock. in a research report on Thursday, July 25th. Barrington Research restated an “outperform” rating and set a $4.75 price objective on shares of Sirius XM in a report on Monday, July 15th. StockNews.com started coverage on Sirius XM in a report on Monday, August 19th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Sirius XM from $3.75 to $3.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Guggenheim reduced their target price on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Sirius XM currently has an average rating of “Hold” and a consensus target price of $3.80.

Sirius XM Stock Performance

The firm has a market cap of $10.50 billion, a P/E ratio of 8.30, a P/E/G ratio of 1.06 and a beta of 1.08. The company’s 50 day moving average is $3.32 and its 200 day moving average is $3.36.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. On average, equities research analysts anticipate that Sirius XM Holdings Inc. will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.0266 per share. The ex-dividend date was Friday, August 9th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.90%. Sirius XM’s dividend payout ratio (DPR) is presently 30.30%.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 1,447,238 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $3.16, for a total value of $4,573,272.08. Following the sale, the insider now owns 989,331 shares in the company, valued at approximately $3,126,285.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the stock in a transaction on Wednesday, June 12th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott Andrew Greenstein sold 1,447,238 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the sale, the insider now directly owns 989,331 shares in the company, valued at approximately $3,126,285.96. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently made changes to their positions in SIRI. Vanguard Group Inc. increased its position in Sirius XM by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares during the period. Berkshire Hathaway Inc increased its stake 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Sirius XM by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after buying an additional 218,211 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Sirius XM in the second quarter worth approximately $12,858,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sirius XM by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after acquiring an additional 353,860 shares during the last quarter. 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.