Sirius XM Sees Unusually High Options Volume (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of unusually large options trading on Friday. Traders purchased 48,916 call options on the company. This is an increase of approximately 188% compared to the typical daily volume of 17,008 call options.

Sirius XM Price Performance

Shares of NASDAQ:SIRI traded down $0.11 during midday trading on Friday, hitting $22.84. The company’s stock had a trading volume of 2,571,616 shares, compared to its average volume of 4,848,226. Sirius XM has a 12-month low of $18.69 and a 12-month high of $24.92. The company has a market cap of $7.65 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 0.39 and a beta of 0.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.30 and a current ratio of 0.30. The business’s 50 day simple moving average is $21.46 and its 200 day simple moving average is $21.64.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, February 11th. Sirius XM’s dividend payout ratio (DPR) is presently 48.21%.

Institutional Trading of Sirius XM

Hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its stake 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 during the last quarter. Krilogy Financial LLC raised its holdings in Sirius XM by 1.1% during the fourth quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock worth $1,097,000 after purchasing an additional 577 shares in the last quarter. Rossby Financial LCC raised its holdings in 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 purchasing an additional 593 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Sirius XM by 4.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock worth $272,000 after buying an additional 594 shares during the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Sirius XM by 6.5% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 9,934 shares of the company’s stock valued at $228,000 after buying an additional 605 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SIRI. UBS Group set a $24.00 target price on Sirius XM in a research note on Tuesday, February 10th. Moffett Nathanson initiated coverage on Sirius XM in a report on Tuesday, January 27th. They set a “neutral” rating and a $21.00 target price for the company. JPMorgan Chase & Co. upgraded Sirius XM from an “underweight” rating to a “neutral” rating and upped their target price for the company from $20.00 to $24.00 in a research report on Tuesday, February 10th. Weiss Ratings downgraded shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, February 6th. Finally, Barrington Research reissued an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a research report on Thursday, February 5th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.44.

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.