Sirius XM (NASDAQ:SIRI) Hits New 1-Year High – Here’s What Happened

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares reached a new 52-week high on Friday . The company traded as high as $24.95 and last traded at $25.00, with a volume of 444816 shares traded. The stock had previously closed at $24.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SIRI shares. Weiss Ratings cut Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 6th. Moffett Nathanson started coverage on Sirius XM in a report on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 price target on the stock. Rosenblatt Securities upped their price target on Sirius XM from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Barrington Research restated an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a report on Thursday, February 5th. Finally, UBS Group set a $24.00 price target on Sirius XM in a report on Tuesday, February 10th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.44.

Sirius XM Trading Up 1.4%

The business has a fifty day simple moving average of $22.38 and a 200 day simple moving average of $21.68. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.64 and a beta of 0.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.30 and a current ratio of 0.30.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 11th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Wednesday, February 11th. Sirius XM’s dividend payout ratio is 48.21%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SIRI. Berkshire Hathaway Inc lifted its stake in shares of Sirius XM by 4.2% during the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after purchasing an additional 5,030,425 shares during the period. AQR Capital Management LLC lifted its stake in shares of Sirius XM by 165.2% during the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after purchasing an additional 3,233,922 shares during the period. Norges Bank purchased a new position in shares of Sirius XM during the 4th quarter worth $57,124,000. Hsbc Holdings PLC lifted its stake in shares of Sirius XM by 858.4% during the 4th quarter. Hsbc Holdings PLC now owns 2,076,539 shares of the company’s stock worth $41,726,000 after purchasing an additional 1,859,872 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in shares of Sirius XM during the 4th quarter worth $34,548,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

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.