Sirius XM Holdings Inc. (SIRI) Sees Large Drop in Short Interest

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 200,178,350 shares, a decline of 9.4% from the March 15th total of 221,041,610 shares. Based on an average daily trading volume, of 16,690,023 shares, the short-interest ratio is currently 12.0 days. Approximately 15.2% of the shares of the company are short sold.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research report on Friday, March 16th. Citigroup downgraded Sirius XM from a “buy” rating to a “neutral” rating and set a $6.65 target price for the company. in a research report on Thursday, March 22nd. ValuEngine upgraded Sirius XM from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Goldman Sachs upped their target price on Sirius XM from $5.00 to $5.50 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Morgan Stanley upped their target price on Sirius XM from $5.35 to $5.50 and gave the stock an “underweight” rating in a research report on Monday, February 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $6.21.

In other news, EVP Joseph A. Verbrugge sold 863,570 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $6.10, for a total transaction of $5,267,777.00. Following the completion of the transaction, the executive vice president now directly owns 2,986,689 shares in the company, valued at $18,218,802.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joan Lordi Amble sold 73,961 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $6.50, for a total value of $480,746.50. Following the completion of the sale, the director now owns 101,174 shares of the company’s stock, valued at $657,631. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,113,308 shares of company stock valued at $6,822,521. Insiders own 1.06% of the company’s stock.



Several large investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Sirius XM by 5.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 187,349 shares of the company’s stock valued at $1,002,000 after acquiring an additional 8,877 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Sirius XM by 21.0% during the 4th quarter. Alps Advisors Inc. now owns 51,956 shares of the company’s stock valued at $278,000 after acquiring an additional 9,027 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Sirius XM by 2.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 335,298 shares of the company’s stock valued at $1,797,000 after acquiring an additional 9,290 shares during the last quarter. Koch Industries Inc. lifted its position in shares of Sirius XM by 31.1% during the 4th quarter. Koch Industries Inc. now owns 41,264 shares of the company’s stock valued at $221,000 after acquiring an additional 9,789 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Sirius XM by 10.2% during the 3rd quarter. Stifel Financial Corp now owns 108,206 shares of the company’s stock valued at $604,000 after acquiring an additional 9,997 shares during the last quarter. Institutional investors own 20.02% of the company’s stock.

Shares of NASDAQ:SIRI opened at $6.19 on Friday. Sirius XM has a one year low of $4.73 and a one year high of $6.62. The firm has a market cap of $28,074.15, a PE ratio of 30.95, a P/E/G ratio of 1.75 and a beta of 1.11. The company has a debt-to-equity ratio of -4.42, a current ratio of 0.17 and a quick ratio of 0.16.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Sirius XM had a negative return on equity of 79.79% and a net margin of 11.94%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.40 billion. equities research analysts expect that Sirius XM will post 0.24 EPS for the current year.

Sirius XM announced that its Board of Directors has approved a share repurchase plan on Tuesday, January 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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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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