Sirius XM (NASDAQ:SIRI) Stock Price Down 7.9% – Time to Sell?

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares fell 7.9% during mid-day trading on Tuesday . The company 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 brokerages recently issued reports on SIRI. Barrington Research set a $28.00 target price on shares of Sirius XM in a research report on Friday, January 31st. Wells Fargo & Company reduced their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley lowered their target price on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Guggenheim reduced their price target 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. Finally, StockNews.com started coverage on Sirius XM in a research report on Wednesday, November 13th. They set a “sell” rating on the stock. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $26.81.

Sirius XM Stock Performance

The company has a market capitalization of $7.40 billion, a P/E ratio of -3.41, a P/E/G ratio of 0.79 and a beta of 1.06. 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 business’s fifty day simple moving average is $23.66 and its 200-day simple moving average is $25.15.

Sirius XM (NASDAQ:SIRI) last issued its 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 positive return on equity of 13.44% and a negative net margin of 24.03%. As a group, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.2 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

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

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently bought and sold shares of the business. Union Bancaire Privee UBP SA purchased a new stake in shares of Sirius XM during the 4th quarter valued at about $26,000. Putney Financial Group LLC bought a new position in shares of Sirius XM during the 4th quarter valued at approximately $27,000. First Command Advisory Services Inc. purchased a new position in Sirius XM during the fourth quarter worth $30,000. Geneos Wealth Management Inc. increased its position in Sirius XM by 574.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after acquiring an additional 1,144 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in Sirius XM by 255.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,838 shares of the company’s stock valued at $42,000 after acquiring an additional 1,321 shares during the last quarter. 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.