Sirius XM (NASDAQ:SIRI) Reaches New 52-Week Low at $3.00

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

Analyst Upgrades and Downgrades

SIRI has been the topic of several recent research reports. Wells Fargo & Company lowered 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 note on Monday, April 1st. Guggenheim began coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company. 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 note on Wednesday, March 27th. StockNews.com started coverage on Sirius XM in a research report on Sunday, April 21st. They issued a “hold” rating for the company. Finally, Pivotal Research upgraded Sirius XM from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.05 to $4.90 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.67.

Sirius XM Stock Performance

The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04. The company has a 50 day moving average price of $3.85 and a 200 day moving average price of $4.60.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. On average, research analysts forecast that Sirius XM Holdings Inc. will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be issued a $0.0266 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.52%. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Sirius XM

Hedge funds have recently bought and sold shares of the stock. Northern Trust Corp increased its stake in shares of Sirius XM by 18.7% during the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after buying an additional 1,776,700 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Sirius XM during the 4th quarter worth $1,669,000. O Shaughnessy Asset Management LLC grew its stake in shares of Sirius XM by 16.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after purchasing an additional 3,495 shares in the last quarter. TIAA Trust National Association increased its holdings in Sirius XM by 92.9% in the fourth quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock valued at $218,000 after buying an additional 19,161 shares during the last quarter. Finally, ING Groep NV acquired a new stake in Sirius XM in the third quarter valued at $2,110,000. Institutional investors and hedge funds 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.