Key Points
- Insider sale: Sirius XM insider Scott Andrew Greenstein sold 20,744 shares for about $618,794 at an average price of $29.83, cutting his position by roughly 50.7%.
- Recent financial results: The company beat quarterly expectations with EPS of $0.72 versus $0.70 expected and revenue of $2.09 billion, up 1.1% year over year.
- Dividend and analyst view: Sirius XM paid a quarterly dividend of $0.27 per share (3.6% annualized yield), while analysts currently have a Hold consensus with a target price of $27.45.
Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the transaction, the insider owned 20,163 shares of the company's stock, valued at $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 available at this hyperlink.
Sirius XM Price Performance
Shares of Sirius XM stock opened at $29.87 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM Holdings Inc. has a twelve month low of $19.76 and a twelve month high of $30.11. The business has a 50-day moving average price of $25.46 and a 200 day moving average price of $22.70. The firm has a market cap of $10.05 billion, a PE ratio of 12.60, a P/E/G ratio of 0.64 and a beta of 0.94.
Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Sirius XM's revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current fiscal year.
Sirius XM Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, May 11th. Sirius XM's payout ratio is currently 45.57%.
Institutional Trading of Sirius XM
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. Sunbelt Securities Inc. increased its position 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 acquiring an additional 794 shares during the period. Root Financial Partners LLC increased its position in shares of Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company's stock worth $32,000 after acquiring an additional 1,195 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Sirius XM during the first quarter worth $33,000. Altshuler Shaham Ltd increased its position in shares of Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company's stock worth $36,000 after acquiring an additional 417 shares during the period. Finally, Rossby Financial LCC increased its position in shares of Sirius XM by 57.7% during the fourth 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 period. Hedge funds and other institutional investors own 10.69% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on SIRI. Guggenheim restated a "buy" rating and set a $34.00 target price (up from $29.00) on shares of Sirius XM in a report on Friday, April 24th. UBS Group set a $24.00 target price on Sirius XM in a report on Tuesday, February 10th. Citigroup reiterated a "sell" rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a report on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on Sirius XM from $24.00 to $26.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded Sirius XM from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $27.45.
Read Our Latest Report on Sirius XM
Sirius XM Company Profile
(
Get Free Report)
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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