Key Points
- Director Jonelle Procope sold 16,672 Sirius XM shares for approximately $499,660, reducing her holdings by 47.6% to 18,354 shares.
- Sirius XM reported quarterly revenue of $2.16 billion, slightly above expectations, but earnings of $0.70 per share missed the $0.78 consensus estimate. Shares opened at $29.91, near the analyst consensus target of $30.92.
- The company declared a quarterly dividend of $0.27 per share, representing a $1.08 annualized payout and a 3.6% yield; institutional investors also significantly increased their holdings.
Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) Director Jonelle Procope sold 16,672 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.97, for a total transaction of $499,659.84. Following the transaction, the director owned 18,354 shares of the company's stock, valued at $550,069.38. This trade represents a 47.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Sirius XM Stock Performance
Shares of NASDAQ:SIRI opened at $29.91 on Friday. The firm has a fifty day simple moving average of $29.44 and a two-hundred day simple moving average of $25.66. Sirius XM Holdings Inc. has a 52 week low of $19.76 and a 52 week high of $32.66. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $10.08 billion, a P/E ratio of 11.96, a PEG ratio of 0.65 and a beta of 0.95.
Sirius XM (NASDAQ:SIRI - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.08). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, analysts expect that Sirius XM Holdings Inc. will post 3.01 earnings per share for the current fiscal year.
Sirius XM Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Monday, August 10th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.08 annualized dividend and a dividend yield of 3.6%. Sirius XM's payout ratio is currently 43.20%.
Wall Street Analyst Weigh In
SIRI has been the subject of a number of analyst reports. Weiss Ratings upgraded Sirius XM from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $45.00 price target on shares of Sirius XM in a research note on Tuesday, July 28th. The Goldman Sachs Group reiterated a "neutral" rating and set a $32.00 price target on shares of Sirius XM in a report on Friday. 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 report on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sirius XM from $26.00 to $34.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.92.
Read Our Latest Report on SIRI
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Sirius XM by 82.9% in the 2nd quarter. BlackRock Inc. now owns 17,602,229 shares of the company's stock worth $519,970,000 after acquiring an additional 7,977,045 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sirius XM by 262.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,301,181 shares of the company's stock valued at $145,426,000 after acquiring an additional 4,560,821 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company's stock valued at $117,327,000 after acquiring an additional 3,233,922 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Sirius XM during the second quarter valued at approximately $145,468,000. Finally, State Street Corp boosted its holdings in shares of Sirius XM by 0.7% in the fourth quarter. State Street Corp now owns 3,487,415 shares of the company's stock valued at $69,731,000 after purchasing an additional 25,906 shares during the period. Hedge funds and other institutional investors own 10.69% of the company's stock.
About Sirius XM
(
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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