Sirius XM (NASDAQ:SIRI) Insider Scott Andrew Greenstein Sells 20,744 Shares

Sirius XM Holdings Inc. (NASDAQ:SIRI) insider Scott Andrew Greenstein sold 20,744 shares of Sirius XM stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares of the company’s stock, valued at approximately $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Sirius XM Trading Up 0.7%

SIRI stock traded up $0.20 during mid-day trading on Thursday, reaching $29.87. The company’s stock had a trading volume of 3,493,953 shares, compared to its average volume of 5,012,999. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.64 and a beta of 0.94. The business’s 50 day moving average price is $25.32 and its 200 day moving average price is $22.64. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83. Sirius XM Holdings Inc. has a 12 month low of $19.76 and a 12 month high of $30.11.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. On average, equities research analysts predict that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Monday, May 11th were issued a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 annualized dividend and a dividend yield of 3.6%. Sirius XM’s payout ratio is currently 45.57%.

Analysts Set New Price Targets

SIRI has been the subject of several recent research reports. Rosenblatt Securities decreased their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Guggenheim restated a “buy” rating and set a $34.00 price objective (up from $29.00) on shares of Sirius XM in a report on Friday, April 24th. Evercore set a $28.00 price objective on Sirius XM in a report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Weiss Ratings upgraded Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average target price of $27.45.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. raised its stake in shares of Sirius XM by 158.5% in the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after buying an additional 794 shares during the period. Root Financial Partners LLC raised its stake in shares of Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after buying an additional 1,195 shares during the period. Rossby Financial LCC raised its stake in shares of Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after buying an additional 593 shares during the period. Western Wealth Management LLC bought a new stake in shares of Sirius XM in the first quarter valued at $33,000. Finally, Altshuler Shaham Ltd raised its stake in shares of Sirius XM by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock valued at $36,000 after buying an additional 417 shares during the period. 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.