Sirius XM (NASDAQ:SIRI) Hits New 1-Year Low – Here’s What Happened

Sirius XM Holdings Inc. (NASDAQ:SIRI) reached a new 52-week low on Tuesday . The company traded as low as $21.88 and last traded at $21.91, with a volume of 2065502 shares. The stock had previously closed at $22.64.

Wall Street Analysts Forecast Growth

SIRI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Rosenblatt Securities upped their target price on shares of Sirius XM from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Bank of America reiterated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, StockNews.com started coverage on Sirius XM in a research note on Wednesday, November 13th. They set a “sell” rating on the stock. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Sirius XM presently has a consensus rating of “Hold” and a consensus target price of $28.27.

Sirius XM Stock Up 0.7 %

The stock has a market cap of $7.34 billion, a PE ratio of -3.41 and a beta of 1.03. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average of $26.27 and a 200 day moving average of $28.45.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a dividend of $0.27 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.08 annualized dividend and a yield of 4.99%. Sirius XM’s payout ratio is presently -17.03%.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock in a transaction on Friday, October 11th. The stock was bought at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the completion of the purchase, the insider now owns 108,719,088 shares in the company, valued at $2,712,541,245.60. This represents a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have purchased 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

Several institutional investors and hedge funds have recently bought and sold shares of SIRI. Coston McIsaac & Partners increased its holdings in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after purchasing an additional 624 shares during the period. TCTC Holdings LLC purchased a new position in shares of Sirius XM in the 3rd quarter valued at about $29,000. Princeton Global Asset Management LLC increased its stake in shares of Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Sirius XM in the 2nd quarter valued at approximately $35,000. Finally, Riverview Capital Advisers LLC acquired a new stake in Sirius XM during the 2nd quarter valued at $35,000. Hedge funds and other 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.