Sirius XM (NASDAQ:SIRI) Sets New 1-Year High at $7.00

Sirius XM Holdings Inc (NASDAQ:SIRI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $7.00 and last traded at $6.98, with a volume of 11191552 shares changing hands. The stock had previously closed at $6.93.

A number of research analysts recently issued reports on the stock. Benchmark assumed coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set a “hold” rating and a $8.00 price objective for the company. Pivotal Research restated a “buy” rating and set a $7.70 price objective on shares of Sirius XM in a report on Friday, August 9th. ValuEngine upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barrington Research restated a “buy” rating and set a $8.00 price objective on shares of Sirius XM in a report on Thursday, October 31st. Finally, BidaskClub upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $7.45.

The company has a market cap of $30.66 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 2.69 and a beta of 1.03. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 46.63. The company’s fifty day moving average price is $6.68 and its two-hundred day moving average price is $6.13.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.98 billion. Sirius XM had a net margin of 12.76% and a negative return on equity of 129.67%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. On average, equities research analysts predict that Sirius XM Holdings Inc will post 0.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 8th were issued a $0.0133 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Thursday, November 7th. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s dividend payout ratio is 19.23%.

In other news, CFO David J. Frear sold 222,507 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $6.94, for a total value of $1,544,198.58. Following the sale, the chief financial officer now owns 1,409,229 shares of the company’s stock, valued at $9,780,049.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Zaslav sold 77,747 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $6.78, for a total transaction of $527,124.66. Following the completion of the sale, the director now directly owns 145,246 shares in the company, valued at approximately $984,767.88. The disclosure for this sale can be found here. Insiders sold 2,055,641 shares of company stock valued at $14,016,229 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in Sirius XM by 1.2% during the third quarter. Tower Research Capital LLC TRC now owns 127,121 shares of the company’s stock worth $796,000 after buying an additional 1,502 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in Sirius XM by 6.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 27,875 shares of the company’s stock valued at $156,000 after buying an additional 1,718 shares during the last quarter. HighTower Advisors LLC raised its holdings in Sirius XM by 0.6% in the 2nd quarter. HighTower Advisors LLC now owns 313,369 shares of the company’s stock valued at $1,758,000 after buying an additional 1,727 shares during the last quarter. Coastal Investment Advisors Inc. raised its holdings in Sirius XM by 11.0% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 21,798 shares of the company’s stock valued at $122,000 after buying an additional 2,158 shares during the last quarter. Finally, AE Wealth Management LLC raised its holdings in Sirius XM by 5.0% in the 2nd quarter. AE Wealth Management LLC now owns 45,793 shares of the company’s stock valued at $256,000 after buying an additional 2,199 shares during the last quarter. 17.75% of the stock is currently owned by institutional investors and hedge funds.

Sirius XM Company Profile (NASDAQ:SIRI)

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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