Sirius XM Holdings Inc (NASDAQ:SIRI) shares reached a new 52-week high on Wednesday . The stock traded as high as $7.20 and last traded at $7.17, with a volume of 20920281 shares trading hands. The stock had previously closed at $7.11.
Several research firms have weighed in on SIRI. Pivotal Research restated a “buy” rating and issued a $8.25 price objective on shares of Sirius XM in a research report on Tuesday, January 7th. FBN Securities began coverage on shares of Sirius XM in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $8.50 price objective for the company. JPMorgan Chase & Co. upgraded shares of Sirius XM from an “underweight” rating to an “overweight” rating in a research report on Thursday, January 2nd. Zacks Investment Research upgraded shares of Sirius XM from a “sell” rating to a “hold” rating and set a $7.25 price objective for the company in a research report on Monday, November 4th. Finally, ValuEngine cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Sirius XM has an average rating of “Buy” and a consensus target price of $7.61.
The firm’s 50-day moving average price is $7.03 and its 200 day moving average price is $6.50. The company has a market cap of $31.85 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 2.81 and a beta of 1.01.
Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Sirius XM had a negative return on equity of 129.67% and a net margin of 12.76%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Sirius XM Holdings Inc will post 0.2 EPS for the current fiscal year.
In other Sirius XM news, EVP Patrick L. Donnelly sold 396,695 shares of Sirius XM stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $7.01, for a total value of $2,780,831.95. Following the transaction, the executive vice president now owns 353,418 shares of the company’s stock, valued at $2,477,460.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James E. Meyer sold 1,523,395 shares of Sirius XM stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $6.81, for a total transaction of $10,374,319.95. Following the completion of the transaction, the chief executive officer now directly owns 10,404,922 shares in the company, valued at approximately $70,857,518.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,168,885 shares of company stock valued at $21,820,069. Corporate insiders own 0.93% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its stake in Sirius XM by 20.2% in the second quarter. Invesco Ltd. now owns 48,900,561 shares of the company’s stock valued at $272,864,000 after buying an additional 8,221,787 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Sirius XM by 4.4% in the third quarter. Eagle Asset Management Inc. now owns 15,818,500 shares of the company’s stock worth $98,944,000 after purchasing an additional 671,928 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Sirius XM by 6.0% in the third quarter. California Public Employees Retirement System now owns 12,690,080 shares of the company’s stock worth $79,376,000 after purchasing an additional 714,051 shares in the last quarter. Carillon Tower Advisers Inc. lifted its position in shares of Sirius XM by 8.4% in the third quarter. Carillon Tower Advisers Inc. now owns 12,160,940 shares of the company’s stock worth $76,067,000 after purchasing an additional 939,435 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Sirius XM by 21,821.3% in the third quarter. Millennium Management LLC now owns 9,010,513 shares of the company’s stock worth $56,360,000 after purchasing an additional 8,969,409 shares in the last quarter. 17.75% of the stock is currently owned by hedge funds and other institutional investors.
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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