Investors Buy Shares of Sirius XM (SIRI) on Weakness
Traders purchased shares of Sirius XM Holdings Inc (NASDAQ:SIRI) on weakness during trading hours on Monday. $125.38 million flowed into the stock on the tick-up and $78.29 million flowed out of the stock on the tick-down, for a money net flow of $47.09 million into the stock. Of all stocks tracked, Sirius XM had the 24th highest net in-flow for the day. Sirius XM traded down ($0.72) for the day and closed at $6.26
SIRI has been the topic of a number of research analyst reports. Barclays downgraded Sirius XM from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Tuesday, June 26th. BidaskClub downgraded Sirius XM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 2nd. Goldman Sachs Group downgraded Sirius XM from a “neutral” rating to a “sell” rating and set a $6.00 price objective on the stock. in a research report on Thursday, June 21st. Macquarie restated a “buy” rating and set a $7.75 price objective on shares of Sirius XM in a research report on Thursday, June 28th. Finally, Barrington Research upgraded Sirius XM from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a research report on Friday, June 29th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.78.
The company has a market cap of $31.35 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.87 and a beta of 1.04. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of -4.70.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 10th were paid a dividend of $0.011 per share. The ex-dividend date was Thursday, August 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.70%. Sirius XM’s dividend payout ratio is 20.00%.
In other news, EVP Stephen Cook sold 415,502 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $7.20, for a total transaction of $2,991,614.40. Following the transaction, the executive vice president now owns 1,988,300 shares of the company’s stock, valued at $14,315,760. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.76% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning raised its stake in Sirius XM by 0.5% in the 2nd quarter. Creative Planning now owns 1,577,014 shares of the company’s stock worth $10,676,000 after acquiring an additional 7,469 shares during the last quarter. Profund Advisors LLC raised its stake in Sirius XM by 3.4% in the 1st quarter. Profund Advisors LLC now owns 281,674 shares of the company’s stock worth $1,758,000 after acquiring an additional 9,263 shares during the last quarter. Moors & Cabot Inc. raised its stake in Sirius XM by 31.9% in the 1st quarter. Moors & Cabot Inc. now owns 42,013 shares of the company’s stock worth $262,000 after acquiring an additional 10,152 shares during the last quarter. California Public Employees Retirement System raised its stake in Sirius XM by 0.3% in the 1st quarter. California Public Employees Retirement System now owns 4,153,636 shares of the company’s stock worth $25,919,000 after acquiring an additional 10,403 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in Sirius XM by 129.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 21,963 shares of the company’s stock worth $149,000 after acquiring an additional 12,400 shares during the last quarter. 18.50% of the stock is currently owned by hedge funds and other institutional investors.
About Sirius XM (NASDAQ:SIRI)
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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