Sirius XM Target of Unusually Large Options Trading (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of unusually large options trading on Wednesday. Stock traders purchased 44,178 call options on the stock. This is an increase of approximately 303% compared to the typical volume of 10,965 call options.

Insider Activity at Sirius XM

In related news, Director Kristina Salen sold 1,845 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $21.64, for a total value of $39,925.80. Following the sale, the director directly owned 19,969 shares of the company’s stock, valued at approximately $432,129.16. This represents a 8.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in Sirius XM during the third quarter valued at about $33,000. Quaker Wealth Management LLC lifted its stake in shares of Sirius XM by 214.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock valued at $37,000 after purchasing an additional 3,001 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Sirius XM by 47.8% during the 2nd quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock worth $37,000 after purchasing an additional 523 shares during the period. Geneos Wealth Management Inc. increased its position in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock worth $41,000 after purchasing an additional 493 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Sirius XM in the third quarter valued at approximately $42,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Stock Up 1.8%

SIRI opened at $22.32 on Thursday. Sirius XM has a 12 month low of $18.69 and a 12 month high of $27.41. The business has a 50-day moving average of $21.61 and a two-hundred day moving average of $22.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 0.33 and a beta of 0.92.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the firm earned ($8.74) earnings per share. Sirius XM’s revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Sirius XM will post 3.2 earnings per share for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Wednesday, November 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, November 5th. Sirius XM’s dividend payout ratio is presently 38.16%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SIRI shares. Barrington Research reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a report on Monday, November 3rd. JPMorgan Chase & Co. upped their target price on Sirius XM from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Zacks Research upgraded Sirius XM from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Rosenblatt Securities reissued a “neutral” rating and issued a $23.00 price target on shares of Sirius XM in a report on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Sirius XM in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $24.29.

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.