Sirius XM (NASDAQ:SIRI) Hits New 12-Month Low at $3.00

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) reached a new 52-week low during trading on Thursday . The stock traded as low as $3.00 and last traded at $3.01, with a volume of 6003560 shares changing hands. The stock had previously closed at $3.16.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SIRI shares. Guggenheim started coverage on shares of Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a research report on Monday, April 1st. StockNews.com initiated coverage on shares of Sirius XM in a research report on Sunday. They set a “hold” rating for the company. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the company from $4.10 to $3.30 in a research report on Wednesday. Finally, Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.05 to $4.90 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $4.67.

Sirius XM Stock Performance

The company has a market capitalization of $11.65 billion, a PE ratio of 9.88, a PEG ratio of 1.07 and a beta of 1.04. The business’s 50-day moving average is $3.92 and its 200-day moving average is $4.62.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. Analysts expect that Sirius XM Holdings Inc. will post 0.29 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.51%. Sirius XM’s dividend payout ratio is currently 34.38%.

Insider Buying and Selling at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the sale, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently modified their holdings of the business. Truvestments Capital LLC purchased a new position in shares of Sirius XM during the 3rd quarter valued at $27,000. BKM Wealth Management LLC purchased a new stake in shares of Sirius XM during the 4th quarter valued at about $27,000. First PREMIER Bank purchased a new stake in shares of Sirius XM during the 1st quarter valued at about $31,000. First United Bank & Trust purchased a new stake in shares of Sirius XM during the 4th quarter valued at about $37,000. Finally, TFO Wealth Partners LLC raised its position in shares of Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after buying an additional 7,028 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.