Sirius XM (NASDAQ:SIRI) Sets New 1-Year Low at $23.89

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $23.89 and last traded at $23.99, with a volume of 767163 shares changing hands. The stock had previously closed at $24.51.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SIRI shares. Citigroup downgraded Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price target on the stock. in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and reduced their target price for the stock from $4.25 to $3.25 in a report on Monday, June 24th. Rosenblatt Securities upped their target price on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $4.75 price objective on shares of Sirius XM in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.03.

Sirius XM Stock Performance

The stock has a market cap of $88.47 billion, a price-to-earnings ratio of 69.70, a P/E/G ratio of 0.90 and a beta of 1.08. The stock has a fifty day simple moving average of $5.15 and a two-hundred day simple moving average of $3.92.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Equities analysts expect that Sirius XM Holdings Inc. will post 3.14 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s payout ratio is 321.21%.

Insiders Place Their Bets

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total value of $4,573,272.08. Following the completion of the transaction, the insider now owns 989,331 shares of the company’s stock, valued at $3,126,285.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several large investors have recently modified their holdings of SIRI. GM Advisory Group LLC raised its position in Sirius XM by 10.0% during the 4th quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock worth $120,000 after purchasing an additional 2,000 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Sirius XM by 14.8% during the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock worth $93,000 after acquiring an additional 2,183 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Sirius XM by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 299,611 shares of the company’s stock worth $1,639,000 after acquiring an additional 2,853 shares during the period. V Square Quantitative Management LLC boosted its holdings in Sirius XM by 66.6% in the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after acquiring an additional 3,194 shares during the last quarter. Finally, Quantum Financial Advisors LLC increased its position in Sirius XM by 36.8% during the 1st quarter. Quantum Financial Advisors LLC now owns 15,553 shares of the company’s stock valued at $60,000 after purchasing an additional 4,184 shares during the period. 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.