Sirius XM (NASDAQ:SIRI) Reaches New 12-Month High – Time to Buy?

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $30.15 and last traded at $30.0920, with a volume of 1486398 shares traded. The stock had previously closed at $29.54.

Analyst Ratings Changes

SIRI has been the subject of several research reports. Barrington Research increased their price target on Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Guggenheim reiterated a “buy” rating on shares of Sirius XM in a research note on Wednesday, June 17th. Weiss Ratings upgraded shares of Sirius XM from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Citigroup reiterated a “sell” rating and issued a $22.00 price objective (up from $19.00) on shares of Sirius XM in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their target price on Sirius XM from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.45.

Sirius XM Trading Up 1.6%

The firm’s 50 day moving average is $27.64 and its 200 day moving average is $23.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market cap of $10.11 billion, a PE ratio of 12.66, a PEG ratio of 0.63 and a beta of 0.96.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a net margin of 9.86% and a return on equity of 9.19%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Sirius XM Holdings Inc. will post 3.1 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 11th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, May 11th. Sirius XM’s dividend payout ratio (DPR) is 45.57%.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 20,744 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.83, for a total transaction of $618,793.52. Following the completion of the transaction, the insider directly owned 20,163 shares in the company, valued at $601,462.29. The trade was a 50.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.27% of the company’s stock.

Institutional Trading of Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. boosted its position in shares of Sirius XM by 158.5% during the 1st quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock valued at $30,000 after acquiring an additional 794 shares during the last quarter. Root Financial Partners LLC increased its position in shares of Sirius XM by 612.8% in the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock worth $32,000 after purchasing an additional 1,195 shares during the last quarter. Rossby Financial LCC raised its stake in Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after purchasing an additional 593 shares in the last quarter. Western Wealth Management LLC bought a new stake in Sirius XM during the first quarter valued at approximately $33,000. Finally, Altshuler Shaham Ltd grew its stake in Sirius XM by 36.7% in the 1st quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares in 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 is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.