Sirius XM (NASDAQ:SIRI) Trading Down 7.9% – Here’s What Happened

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) traded down 7.9% during trading on Tuesday . The stock traded as low as $23.28 and last traded at $22.46. 2,016,698 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 5,382,717 shares. The stock had previously closed at $24.39.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Sirius XM in a research report on Wednesday, November 13th. They issued a “sell” rating for the company. Seaport Res Ptn cut Sirius XM from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Guggenheim decreased their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Rosenblatt Securities lowered their target price on Sirius XM from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Barrington Research set a $28.00 price target on Sirius XM in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.81.

Sirius XM Stock Performance

The firm’s 50 day moving average is $23.66 and its 200 day moving average is $25.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $7.40 billion, a P/E ratio of -3.41, a price-to-earnings-growth ratio of 0.79 and a beta of 1.06.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.20. Sirius XM had a negative net margin of 24.03% and a positive return on equity of 13.44%. Analysts anticipate that Sirius XM Holdings Inc. will post 3.2 EPS for the current year.

Sirius XM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend was Friday, February 7th. Sirius XM’s dividend payout ratio (DPR) is presently -16.85%.

Hedge Funds Weigh In On Sirius XM

Several hedge funds have recently modified their holdings of SIRI. Union Bancaire Privee UBP SA purchased a new stake in Sirius XM during the 4th quarter worth approximately $26,000. Putney Financial Group LLC purchased a new stake in shares of Sirius XM during the fourth quarter valued at $27,000. First Command Advisory Services Inc. purchased a new position in Sirius XM in the 4th quarter worth $30,000. Geneos Wealth Management Inc. lifted its position in Sirius XM by 574.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock worth $31,000 after acquiring an additional 1,144 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in Sirius XM by 255.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company’s stock valued at $42,000 after purchasing an additional 1,321 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 operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company’s Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.