Sirius XM (NASDAQ:SIRI) Hits New 12-Month Low at $3.00

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares hit a new 52-week low on Thursday . The stock traded as low as $3.00 and last traded at $3.01, with a volume of 6003560 shares. The stock had previously closed at $3.16.

Wall Street Analyst Weigh In

SIRI has been the topic of a number of analyst reports. Benchmark decreased their target price on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Wells Fargo & Company decreased their target price on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and cut their price target for the stock from $4.10 to $3.30 in a research note on Wednesday. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and cut their price target for the stock from $5.05 to $4.90 in a research note on Wednesday. Finally, StockNews.com began coverage on shares of Sirius XM in a research note on Sunday. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and a consensus target price of $4.67.

Sirius XM Stock Performance

The company’s fifty day moving average price is $3.92 and its 200 day moving average price is $4.62. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. As a group, sell-side analysts expect that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be given a $0.0266 dividend. This represents a $0.11 annualized dividend and a yield of 3.51%. Sirius XM’s dividend payout ratio is presently 34.38%.

Insider Activity at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the sale, the director now owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Sirius XM by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after acquiring an additional 363,551 shares during the last quarter. Berkshire Hathaway Inc grew its holdings in shares of Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after acquiring an additional 30,559,834 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Sirius XM by 482.9% in the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after acquiring an additional 12,129,166 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Sirius XM by 18.7% in the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after acquiring an additional 1,776,700 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Sirius XM by 169.6% in the 3rd quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock worth $46,572,000 after acquiring an additional 6,482,109 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

About Sirius XM

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.