Sirius XM (NASDAQ:SIRI) Sets New 1-Year High – Still a Buy?

Sirius XM Holdings Inc. (NASDAQ:SIRI) reached a new 52-week high during trading on Thursday . The company traded as high as $28.44 and last traded at $28.06, with a volume of 12443184 shares changing hands. The stock had previously closed at $26.18.

Analyst Ratings Changes

Several equities research analysts have issued reports on SIRI shares. JPMorgan Chase & Co. upgraded Sirius XM from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $20.00 to $24.00 in a report on Tuesday, February 10th. Barrington Research reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a research report on Thursday, February 5th. Rosenblatt Securities upped their price objective on Sirius XM from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. UBS Group set a $24.00 price objective on Sirius XM in a research report on Tuesday, February 10th. Finally, Moffett Nathanson initiated coverage on Sirius XM in a research report on Tuesday, January 27th. They set a “neutral” rating and a $21.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.44.

Sirius XM Stock Up 7.2%

The firm has a 50-day moving average of $22.80 and a 200 day moving average of $21.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 0.70 and a beta of 0.85.

Sirius XM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 11th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $1.08 annualized dividend and a yield of 3.8%. Sirius XM’s dividend payout ratio is 48.21%.

Institutional Trading of Sirius XM

Hedge funds have recently made changes to their positions in the business. Sound Income Strategies LLC acquired a new stake in shares of Sirius XM in the third quarter valued at approximately $33,000. Rossby Financial LCC lifted its position in shares of Sirius XM by 57.7% in the fourth 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 last quarter. Mather Group LLC. acquired a new stake in shares of Sirius XM in the third quarter valued at approximately $42,000. Geneos Wealth Management Inc. lifted its position in shares of Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Sirius XM in the third quarter valued at approximately $44,000. 10.69% of the stock is owned by institutional investors and hedge funds.

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.