Sirius XM (NASDAQ:SIRI) Reaches New 1-Year Low at $23.89

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares reached a new 52-week low on Monday . The stock traded as low as $23.89 and last traded at $23.99, with a volume of 767163 shares trading hands. The stock had previously closed at $24.51.

Analyst Ratings Changes

SIRI has been the subject of a number of research reports. Barrington Research reissued an “outperform” rating and issued a $4.75 price target on shares of Sirius XM in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on Sirius XM from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Citigroup cut shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price target for the company. in a research report on Thursday, July 25th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and dropped their target price for the company from $4.25 to $3.25 in a research report on Monday, June 24th. Finally, Rosenblatt Securities raised their price target on Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.03.

Sirius XM Price Performance

The company has a market cap of $88.47 billion, a price-to-earnings ratio of 69.70, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08. The stock has a 50-day moving average price of $5.15 and a 200 day moving average price of $3.92.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Sell-side analysts expect that Sirius XM Holdings Inc. will post 3.14 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.0266 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.11 annualized dividend and a yield of 0.46%. Sirius XM’s dividend payout ratio is currently 321.21%.

Insiders Place Their Bets

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the business’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 directly owns 989,331 shares in the company, valued at $3,126,285.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SIRI. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Sirius XM by 1.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock worth $3,120,000 after buying an additional 9,956 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of Sirius XM during the 1st quarter worth approximately $2,036,000. Morningstar Investment Services LLC bought a new stake in shares of Sirius XM during the 4th quarter worth approximately $85,000. Assetmark Inc. boosted its holdings in shares of Sirius XM by 1,320.9% in the 4th quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock valued at $214,000 after buying an additional 36,326 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Sirius XM by 25.2% in the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.