Sirius XM (NASDAQ:SIRI) Sets New 12-Month High – Should You Buy?

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) hit a new 52-week high during trading on Tuesday . The company traded as high as $31.16 and last traded at $30.75, with a volume of 5102034 shares traded. The stock had previously closed at $30.51.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SIRI shares. Evercore set a $28.00 price target on Sirius XM in a report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Citigroup restated a “sell” rating and set a $22.00 target price (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Rosenblatt Securities lowered their price target on Sirius XM from $46.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Barrington Research increased their price target on shares of Sirius XM from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.45.

Sirius XM Stock Performance

The firm has a fifty day simple moving average of $28.04 and a 200-day simple moving average of $24.17. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.83. The company has a market cap of $10.19 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.66 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. On average, research analysts forecast that Sirius XM Holdings Inc. will post 3.1 EPS for the current fiscal year.

Sirius XM Announces Dividend

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

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total transaction of $618,793.52. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.27% of the company’s stock.

Institutional Trading of Sirius XM

Large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. increased 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 purchasing an additional 794 shares during the period. Root Financial Partners LLC boosted its stake 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 buying an additional 1,195 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Sirius XM during the first quarter worth about $33,000. Altshuler Shaham Ltd grew its holdings in shares of 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 buying an additional 417 shares during the last quarter. Finally, Rossby Financial LCC grew its holdings in shares of Sirius XM by 57.7% during the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

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.