Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) saw some unusual options trading activity on Thursday. Stock traders bought 58,116 call options on the stock. This is an increase of approximately 203% compared to the typical daily volume of 19,167 call options.
Wall Street Analyst Weigh In
Several research firms recently issued reports on SIRI. Rosenblatt Securities cut their target price on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Guggenheim reiterated a “buy” rating and set a $34.00 price objective (up from $29.00) on shares of Sirius XM in a research note on Friday, April 24th. Weiss Ratings upgraded shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Citigroup reiterated a “sell” rating and issued a $22.00 price target (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Finally, Barrington Research increased their price objective on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average price target of $27.45.
Get Our Latest Stock Analysis on SIRI
Sirius XM Price Performance
Sirius XM (NASDAQ:SIRI – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share 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 analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the company earned $0.59 EPS. Sirius XM’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, research analysts predict that Sirius XM will post 3.1 earnings per share for the current fiscal year.
Sirius XM Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.9%. Sirius XM’s payout ratio is 45.57%.
Insider Buying and Selling at Sirius XM
In other news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. The trade was a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.27% of the company’s stock.
Institutional Trading of Sirius XM
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc boosted its stake in Sirius XM by 4.2% during the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after buying an additional 5,030,425 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Sirius XM by 262.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company’s stock valued at $145,426,000 after purchasing an additional 4,560,821 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after buying an additional 3,233,922 shares in the last quarter. Norges Bank purchased a new stake in shares of Sirius XM during the 4th quarter valued at $57,124,000. Finally, Hsbc Holdings PLC lifted its holdings in shares of Sirius XM by 858.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock valued at $41,726,000 after purchasing an additional 1,859,872 shares during the last quarter. 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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