Sirius XM Target of Unusually High Options Trading (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of unusually large options trading on Wednesday. Investors acquired 31,882 call options on the company. This represents an increase of 92% compared to the typical daily volume of 16,617 call options.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup reissued a “sell” rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Guggenheim reaffirmed a “buy” rating on shares of Sirius XM in a report on Wednesday, June 17th. Rosenblatt Securities reduced their price target on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings raised shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Evercore set a $28.00 target price on Sirius XM in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.45.

Sirius XM Trading Up 1.7%

Shares of NASDAQ:SIRI traded up $0.52 during mid-day trading on Wednesday, reaching $30.06. The stock had a trading volume of 2,245,168 shares, compared to its average volume of 5,236,647. The firm has a 50 day simple moving average of $27.64 and a two-hundred day simple moving average of $23.80. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.83. The firm has a market cap of $10.12 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.63 and a beta of 0.96. Sirius XM has a twelve month low of $19.76 and a twelve month high of $30.32.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) 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 analysts’ expectations of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.Sirius XM’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. On average, research analysts predict that Sirius XM will post 3.1 EPS for the current fiscal year.

Sirius XM Announces Dividend

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

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SIRI. Sunbelt Securities Inc. raised its stake in 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 boosted its holdings in shares of Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after acquiring an additional 1,195 shares during the period. Rossby Financial LCC boosted its stake in Sirius XM by 57.7% in the 4th quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after purchasing an additional 593 shares during the period. Western Wealth Management LLC bought a new position in Sirius XM during the 1st quarter worth $33,000. Finally, Altshuler Shaham Ltd increased its position in Sirius XM by 36.7% during the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after acquiring an additional 417 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.