Stock Traders Purchase Large Volume of Sirius XM Call Options (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the recipient of unusually large options trading activity on Friday. Traders acquired 62,897 call options on the stock. This is an increase of 265% compared to the average volume of 17,244 call options.

Analyst Ratings Changes

A number of research firms have commented on SIRI. JPMorgan Chase & Co. increased their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 9th. Guggenheim restated a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Evercore set a $28.00 price target on Sirius XM in a report on Friday, May 1st. Finally, Rosenblatt Securities reduced their price objective on Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $28.00.

Sirius XM Trading Down 2.0%

NASDAQ:SIRI traded down $0.63 on Friday, hitting $30.59. The stock had a trading volume of 1,423,570 shares, compared to its average volume of 5,115,411. 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 stock has a market cap of $10.30 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 0.66 and a beta of 0.95. The company has a fifty day moving average price of $28.53 and a two-hundred day moving average price of $24.60. Sirius XM has a 1-year low of $19.76 and a 1-year high of $31.42.

Sirius XM (NASDAQ:SIRI) last announced its quarterly 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 the consensus estimate of $2.07 billion. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts expect that Sirius XM will post 3.1 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.08 annualized dividend and a yield of 3.5%. Sirius XM’s dividend payout ratio (DPR) is 45.57%.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction dated 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. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several large investors have recently modified their holdings of the business. Sunbelt Securities Inc. lifted its stake in shares of Sirius XM by 158.5% in the 1st 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 last quarter. Root Financial Partners LLC increased its position in shares of Sirius XM by 612.8% during the 1st quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after purchasing an additional 1,195 shares during the last quarter. Rossby Financial LCC raised its holdings 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 buying an additional 593 shares during the period. Western Wealth Management LLC purchased a new stake in Sirius XM in the 1st quarter valued at about $33,000. Finally, Altshuler Shaham Ltd lifted its position in 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 last quarter. Institutional investors and hedge funds 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.