Sirius XM (NASDAQ:SIRI) Stock Crosses Above 200-Day Moving Average – Here’s Why

Sirius XM Holdings Inc. (NASDAQ:SIRI) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $27.38 and traded as high as $27.70. Sirius XM shares last traded at $26.53, with a volume of 6,161,639 shares.

More Sirius XM News

Here are the key news stories impacting Sirius XM this week:

• Positive Sentiment: Traders purchased 76,364 Sirius XM call options, roughly 273% above the average volume of 20,453 contracts. The activity signals increased near-term bullish speculation, although options positioning does not guarantee a sustained rally. Investors Buy Large Volume of Sirius XM Call Options
• Positive Sentiment: SiriusXM placed a new satellite into operational service, a development that should support network capacity, service reliability and long-term infrastructure needs. SiriusXM slides new satellite into operational service
• Positive Sentiment: The company continues expanding its live and exclusive programming, including an Ella Langley Small Stage Series performance in Denver, a Billy Joel call-in appearance, and Stephen A. Smith’s discussion of SiriusXM as a platform for political independents. These efforts may help listener engagement and differentiate the service. Ella Langley to Perform SiriusXM Small Stage Series Show Billy Joel sets SiriusXM call-in show appearance Stephen A. Smith discusses SiriusXM’s political programming
• Neutral Sentiment: Reports show zero shares sold short as of September 24, despite describing a large increase in short interest. The contradictory figures make this data unreliable and provide little actionable insight into investor positioning.
• Neutral Sentiment: Coverage of Howard Stern reportedly filming an HBO Max program away from SiriusXM’s New York studio could raise questions about his SiriusXM presence, but no change to his relationship with the company was reported. Howard Stern reportedly filming new HBO Max show
• Negative Sentiment: SIRI previously declined 3.32% in a recent session, indicating ongoing volatility and potential technical pressure despite later recovery. Sirius XM stock moves

Wall Street Analyst Weigh In

SIRI has been the subject of a number of recent analyst reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 price target on shares of Sirius XM in a research report on Friday, August 7th. Wells Fargo & Company upgraded shares of Sirius XM from an “underweight” rating to an “overweight” rating in a research note on Wednesday, September 2nd. Citigroup reaffirmed a “sell” rating and issued a $25.00 target price (up from $22.00) on shares of Sirius XM in a report on Friday, July 31st. William Blair raised Sirius XM to a “market perform” rating in a report on Wednesday, September 2nd. Finally, Scotiabank began coverage on Sirius XM in a research report on Wednesday, September 2nd. They issued an “outperform” rating on the stock. Nine research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.15.

Sirius XM Trading Up 1.3%

The stock has a market cap of $8.98 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 0.48 and a beta of 0.95. The stock’s 50-day moving average is $29.10 and its two-hundred day moving average is $27.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.46 and a quick ratio of 0.46.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Sirius XM had a net margin of 10.23% and a return on equity of 9.37%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Sirius XM Holdings Inc. will post 3 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 10th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, August 10th. Sirius XM’s payout ratio is currently 43.20%.

Insiders Place Their Bets

In other Sirius XM news, Director Jonelle Procope sold 16,672 shares of Sirius XM stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.97, for a total value of $499,659.84. Following the sale, the director owned 18,354 shares of the company’s stock, valued at $550,069.38. The trade was a 47.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SIRI. QRG Capital Management Inc. bought a new stake in Sirius XM in the second quarter worth $224,000. State Street Corp grew its stake in shares of Sirius XM by 68.9% in the 2nd quarter. State Street Corp now owns 5,992,497 shares of the company’s stock worth $177,018,000 after buying an additional 2,444,881 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Sirius XM by 250.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 212,389 shares of the company’s stock worth $6,274,000 after buying an additional 151,747 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Sirius XM by 23.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,736 shares of the company’s stock worth $701,000 after buying an additional 4,523 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Sirius XM during the 2nd quarter valued at about $1,477,000. 10.69% of the stock is currently owned by institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc provides subscription-based audio entertainment and information services in the United States and Canada. Its SiriusXM service delivers commercial-free music, sports, news, talk and entertainment programming through satellite radio and internet streaming, including its mobile app and connected-vehicle platforms.

The company offers a broad range of exclusive and licensed content, including live sports coverage, original talk and comedy programs, news services, podcasts, and music channels organized by genre and artist.