Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) gapped down prior to trading on Friday . The stock had previously closed at $6.28, but opened at $6.26. Sirius XM shares last traded at $6.25, with a volume of 8128566 shares traded.
Several research firms have issued reports on SIRI. Citigroup lowered shares of Sirius XM from a “buy” rating to a “neutral” rating and set a $6.65 price target on the stock. in a research report on Thursday. Zacks Investment Research upgraded shares of Sirius XM from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Wednesday, January 24th. Buckingham Research raised their price target on shares of Sirius XM from $6.50 to $7.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays raised their price target on shares of Sirius XM from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada set a $6.00 price target on shares of Sirius XM and gave the stock a “hold” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $6.23.
The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of -4.42. The company has a market cap of $28,119.07, a PE ratio of 47.47, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 7th were issued a dividend of $0.011 per share. This represents a $0.04 annualized dividend and a yield of 0.71%. The ex-dividend date was Tuesday, February 6th. Sirius XM’s dividend payout ratio is currently 30.77%.
Sirius XM declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
In related news, VP Thomas D. Barry sold 175,777 shares of Sirius XM stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $6.11, for a total transaction of $1,073,997.47. Following the completion of the transaction, the vice president now directly owns 551,815 shares of the company’s stock, valued at approximately $3,371,589.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph A. Verbrugge sold 863,570 shares of Sirius XM stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $6.10, for a total transaction of $5,267,777.00. Following the transaction, the executive vice president now directly owns 2,986,689 shares of the company’s stock, valued at $18,218,802.90. The disclosure for this sale can be found here. Insiders have sold a total of 1,113,308 shares of company stock valued at $6,822,521 over the last three months. 1.06% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Valmark Advisers Inc. lifted its holdings in Sirius XM by 102.3% during the 4th quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock valued at $108,000 after purchasing an additional 10,230 shares during the last quarter. Cornerstone Financial Partners LLC bought a new position in Sirius XM during the 4th quarter valued at about $113,000. Kalos Management Inc. bought a new position in Sirius XM during the 3rd quarter valued at about $114,000. SeaCrest Wealth Management LLC bought a new position in Sirius XM during the 4th quarter valued at about $115,000. Finally, MANA Advisors LLC bought a new position in Sirius XM during the 4th quarter valued at about $129,000. 20.01% of the stock is owned by hedge funds and other institutional investors.
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About Sirius XM
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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