Sirius XM (NASDAQ:SIRI) Director Sells 16,672 Shares of Stock

Sirius XM Holdings Inc. (NASDAQ:SIRI) Director Jonelle Procope sold 16,672 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director owned 18,354 shares in the company, valued at $550,069.38. The trade was a 47.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sirius XM Price Performance

Shares of Sirius XM stock traded up $0.03 during trading on Friday, reaching $29.91. The company’s stock had a trading volume of 3,770,614 shares, compared to its average volume of 5,053,874. The stock has a 50-day moving average price of $29.43 and a two-hundred day moving average price of $25.63. The stock has a market capitalization of $10.08 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.79. Sirius XM Holdings Inc. has a one year low of $19.76 and a one year high of $32.66.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the business earned $0.57 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc. will post 3.01 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 10th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, August 10th. Sirius XM’s payout ratio is presently 43.20%.

Analyst Ratings Changes

Several research firms recently weighed in on SIRI. Benchmark reaffirmed a “buy” rating on shares of Sirius XM in a research report on Wednesday, July 29th. Rosenblatt Securities reissued a “buy” rating and issued a $45.00 price objective on shares of Sirius XM in a research report on Tuesday, July 28th. Bank of America reaffirmed an “underperform” rating on shares of Sirius XM in a research note on Friday, July 31st. Citigroup reaffirmed a “sell” rating and issued a $25.00 price objective (up from $22.00) on shares of Sirius XM in a research note on Friday, July 31st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $32.00 price target on shares of Sirius XM in a report on Friday. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average price target of $30.92.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently modified their holdings of the company. Valeo Financial Advisors LLC raised its position in Sirius XM by 3.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock valued at $322,000 after purchasing an additional 340 shares in the last quarter. Altshuler Shaham Ltd increased its holdings 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 purchasing an additional 417 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Sirius XM by 33.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,837 shares of the company’s stock worth $55,000 after acquiring an additional 463 shares during the period. Geneos Wealth Management Inc. raised its holdings in Sirius XM by 36.7% during the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Sirius XM by 5.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock worth $291,000 after purchasing an additional 509 shares in the last quarter. 10.69% of the stock is currently owned by institutional investors.

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.