Sirius XM Target of Unusually Large Options Trading (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) saw some unusual options trading activity on Wednesday. Investors purchased 52,926 call options on the stock. This is an increase of approximately 89% compared to the average volume of 28,006 call options.

Analysts Set New Price Targets

Several brokerages recently commented on SIRI. Guggenheim began coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target for the company. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $3.50 to $3.25 in a report on Wednesday, May 1st. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and lowered their target price for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Barrington Research restated an “outperform” rating and set a $5.75 price objective on shares of Sirius XM in a research report on Tuesday, April 30th. Finally, Seaport Res Ptn upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.42.

Sirius XM Stock Down 3.1 %

NASDAQ:SIRI opened at $2.80 on Thursday. Sirius XM has a twelve month low of $2.79 and a twelve month high of $7.95. The business has a 50 day moving average price of $3.36 and a two-hundred day moving average price of $4.41. The company has a market cap of $10.77 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 0.98 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, analysts anticipate that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Thursday, May 9th. Sirius XM’s dividend payout ratio is currently 33.33%.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently made changes to their positions in SIRI. BKM Wealth Management LLC bought a new position in Sirius XM during the 4th quarter worth $27,000. Truvestments Capital LLC acquired a new stake in shares of Sirius XM during the third quarter worth $27,000. First United Bank & Trust acquired a new stake in shares of Sirius XM during the fourth quarter worth $37,000. TFO Wealth Partners LLC lifted its holdings in shares of Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after buying an additional 7,028 shares in the last quarter. Finally, American National Bank acquired a new stake in shares of Sirius XM during the fourth quarter worth $41,000. Institutional investors 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.