An issue of Sirius XM Holdings Inc. (NASDAQ:SIRI) debt fell 4.8% against its face value during trading on Thursday. The high-yield debt issue has a 5.375% coupon and is set to mature on April 15, 2025. The debt is now trading at $97.25 and was trading at $103.05 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

A number of research firms recently weighed in on SIRI. Morgan Stanley upped their target price on shares of Sirius XM from $5.35 to $5.50 and gave the company an “underweight” rating in a research note on Monday. Goldman Sachs Group upped their target price on shares of Sirius XM from $5.00 to $5.50 and gave the company a “buy” rating in a research note on Monday. Buckingham Research upped their target price on shares of Sirius XM from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Barclays upped their target price on shares of Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $6.12.

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) traded down $0.15 during trading on Thursday, reaching $5.85. 28,930,790 shares of the company’s stock traded hands, compared to its average volume of 23,230,000. The company has a debt-to-equity ratio of -4.42, a current ratio of 0.17 and a quick ratio of 0.16. The company has a market capitalization of $26,950.00, a PE ratio of 41.79, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. Sirius XM Holdings Inc. has a 1 year low of $4.67 and a 1 year high of $6.28.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.011 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.04 annualized dividend and a yield of 0.75%. Sirius XM’s dividend payout ratio is 28.57%.

Sirius XM declared that its Board of Directors has initiated a share buyback program on Tuesday, January 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

In other news, VP Thomas D. Barry sold 175,777 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 551,815 shares in the company, valued at $3,371,589.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James E. Meyer sold 172,704 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total transaction of $980,958.72. Following the transaction, the chief executive officer now owns 3,377,085 shares in the company, valued at $19,181,842.80. The disclosure for this sale can be found here. Insiders have sold 2,586,530 shares of company stock worth $15,157,263 over the last quarter. 1.06% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Scotia Capital Inc. lifted its position in shares of Sirius XM by 0.8% during the second quarter. Scotia Capital Inc. now owns 25,494 shares of the company’s stock worth $139,000 after purchasing an additional 206 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Sirius XM by 9.7% during the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after purchasing an additional 1,799 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Sirius XM by 1.6% during the second quarter. PNC Financial Services Group Inc. now owns 113,475 shares of the company’s stock worth $621,000 after purchasing an additional 1,828 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Sirius XM by 6.0% during the second quarter. Stifel Financial Corp now owns 98,209 shares of the company’s stock worth $538,000 after purchasing an additional 5,563 shares in the last quarter. Finally, National Asset Management Inc. lifted its position in shares of Sirius XM by 33.1% during the second quarter. National Asset Management Inc. now owns 29,711 shares of the company’s stock worth $163,000 after purchasing an additional 7,386 shares in the last quarter. Institutional investors own 19.69% of the company’s stock.

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Sirius XM Company Profile

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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