Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $31.48 and last traded at $31.4190, with a volume of 1248365 shares changing hands. The stock had previously closed at $29.80.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on SIRI. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Evercore set a $28.00 price objective on Sirius XM in a report on Friday, May 1st. Citigroup reissued a “sell” rating and issued a $22.00 target price (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. Guggenheim reissued a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company set a $30.00 price target on Sirius XM and gave the stock an “equal weight” rating in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.09.
Read Our Latest Analysis on Sirius XM
Sirius XM Price Performance
Sirius XM (NASDAQ:SIRI – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the business posted $0.59 earnings per share. Sirius XM’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current year.
Sirius XM Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, August 10th. Sirius XM’s dividend payout ratio (DPR) is 45.57%.
Insider Activity
In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares in the company, valued at $601,462.29. This represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.27% of the company’s stock.
Institutional Trading of Sirius XM
Hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbelt Securities Inc. increased its stake in shares of Sirius XM by 158.5% during the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after acquiring an additional 794 shares during the period. Root Financial Partners LLC lifted its position in Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after purchasing an additional 1,195 shares during the period. Rossby Financial LCC boosted its holdings in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. Western Wealth Management LLC acquired a new position in Sirius XM during the 1st quarter worth approximately $33,000. Finally, Altshuler Shaham Ltd raised its stake in shares of Sirius XM by 36.7% during the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.
About Sirius XM
Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.
Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.
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