Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) was the target of unusually large options trading activity on Wednesday. Traders acquired 70,933 call options on the stock. This is an increase of approximately 254% compared to the typical volume of 20,032 call options.
Sirius XM Price Performance
SIRI stock traded down $0.21 during trading on Wednesday, reaching $28.59. 1,277,638 shares of the company were exchanged, compared to its average volume of 4,865,607. The company has a 50-day moving average of $29.72 and a two-hundred day moving average of $26.90. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 0.52 and a beta of 0.95. Sirius XM has a twelve month low of $19.76 and a twelve month high of $32.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46.
Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 EPS. As a group, equities analysts predict that Sirius XM will post 3 earnings per share for the current fiscal year.
Sirius XM Dividend Announcement
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the stock. TD Cowen downgraded shares of Sirius XM to a “hold” rating in a report on Wednesday, September 2nd. Wolfe Research initiated coverage on shares of Sirius XM in a research note on Wednesday, September 2nd. They issued an “outperform” rating on the stock. Weiss Ratings upgraded shares of Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Benchmark restated a “buy” rating on shares of Sirius XM in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company raised Sirius XM from an “underweight” rating to an “overweight” rating in a report on Wednesday, September 2nd. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.00.
Check Out Our Latest Stock Report on Sirius XM
Insider Transactions at Sirius XM
In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the sale, the director directly 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 SEC, which is available at the SEC website. 3.27% of the stock is owned by insiders.
Institutional Trading of Sirius XM
A number of hedge funds have recently made changes to their positions in SIRI. Sunbelt Securities Inc. grew its holdings 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 purchasing an additional 794 shares during the last quarter. Root Financial Partners LLC boosted its position in Sirius XM by 612.8% during the 1st 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 acquired a new stake in Sirius XM during the 2nd quarter worth approximately $32,000. Rossby Financial LCC grew its holdings in Sirius XM by 57.7% during the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after acquiring an additional 593 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in Sirius XM during the 1st quarter worth approximately $33,000. 10.69% of the stock is owned by institutional investors and hedge funds.
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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