Sirius XM (NASDAQ:SIRI) Stock Price Down 7.9% – Here’s What Happened

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) fell 7.9% during trading on Tuesday . The company traded as low as $23.28 and last traded at $22.46. 2,016,698 shares traded hands during trading, a decline of 63% from the average session volume of 5,382,717 shares. The stock had previously closed at $24.39.

Analyst Ratings Changes

Several research analysts have recently issued reports on SIRI shares. Morgan Stanley decreased their price objective on shares of Sirius XM from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Barrington Research set a $28.00 price target on Sirius XM in a research report on Friday, January 31st. Wells Fargo & Company cut their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a report on Thursday, December 19th. StockNews.com initiated coverage on Sirius XM in a report on Wednesday, November 13th. They set a “sell” rating on the stock. Finally, Rosenblatt Securities cut their price target on shares of Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.81.

Sirius XM Stock Down 6.9 %

The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.93. The company has a market cap of $7.69 billion, a price-to-earnings ratio of -3.54, a P/E/G ratio of 0.79 and a beta of 1.06. The business has a fifty day moving average price of $23.67 and a two-hundred day moving average price of $25.23.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. On average, equities analysts predict that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were paid a $0.27 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.08 annualized dividend and a dividend yield of 4.76%. Sirius XM’s payout ratio is -16.85%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Berkshire Hathaway Inc increased its position in Sirius XM by 11.7% during the fourth quarter. Berkshire Hathaway Inc now owns 117,468,573 shares of the company’s stock worth $2,678,283,000 after buying an additional 12,313,544 shares during the last quarter. Sessa Capital IM L.P. acquired a new position in shares of Sirius XM during the 3rd quarter valued at about $77,983,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Sirius XM during the 3rd quarter valued at about $67,598,000. LSV Asset Management bought a new position in shares of Sirius XM in the 4th quarter valued at approximately $51,535,000. Finally, Seizert Capital Partners LLC acquired a new stake in Sirius XM in the 3rd quarter worth approximately $46,173,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Company Profile

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.