Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) Director Jonelle Procope sold 16,672 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total value of $499,659.84. Following the completion of the sale, the director owned 18,354 shares in the company, valued at $550,069.38. This represents a 47.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Sirius XM Price Performance
Sirius XM stock traded up $0.03 during midday trading on Friday, reaching $29.91. 3,770,614 shares of the company were exchanged, compared to its average volume of 5,053,874. The firm’s 50-day simple moving average is $29.43 and its 200-day simple moving average is $25.63. Sirius XM Holdings Inc. has a 1 year low of $19.76 and a 1 year high of $32.66. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.67 and a beta of 0.95. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.46 and a current ratio of 0.46.
Sirius XM (NASDAQ:SIRI – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.08). Sirius XM had a return on equity of 9.37% and a net margin of 10.23%.The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $0.57 earnings per share. Sirius XM’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current year.
Sirius XM Dividend Announcement
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Bank of America reiterated an “underperform” rating on shares of Sirius XM in a report on Friday, July 31st. Guggenheim reaffirmed a “buy” rating and set a $35.00 price target (up from $34.00) on shares of Sirius XM in a research note on Friday, July 31st. Evercore set a $28.00 price target on shares of Sirius XM in a report on Friday, May 1st. Weiss Ratings raised shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price objective on shares of Sirius XM in a report on Friday. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and an average target price of $30.92.
View Our Latest Analysis on SIRI
Hedge Funds Weigh In On Sirius XM
Hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. boosted its position in Sirius XM by 158.5% during the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares during the period. Root Financial Partners LLC boosted its position in shares of Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after buying an additional 1,195 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Sirius XM in the second quarter worth about $32,000. Rossby Financial LCC raised its holdings in shares of Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after buying an additional 593 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in shares of Sirius XM during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.
Sirius XM Company Profile
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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