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

Sirius XM Holdings Inc. (NASDAQ:SIRI) saw unusually large options trading activity on Wednesday. Stock investors bought 53,179 call options on the stock. This represents an increase of 303% compared to the typical daily volume of 13,199 call options.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SIRI. Rosenblatt Securities restated a “neutral” rating and set a $23.00 target price on shares of Sirius XM in a research report on Monday, December 1st. Barrington Research reissued an “outperform” rating and set a $28.00 price target on shares of Sirius XM in a research note on Monday, November 3rd. JPMorgan Chase & Co. upped their price target on Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of Sirius XM in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sirius XM in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.29.

Sirius XM Stock Up 2.0%

Shares of NASDAQ:SIRI opened at $20.54 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $6.91 billion, a P/E ratio of 7.26, a P/E/G ratio of 0.27 and a beta of 0.93. Sirius XM has a 52-week low of $18.69 and a 52-week high of $27.41. The stock’s fifty day simple moving average is $21.02 and its 200-day simple moving average is $22.11.

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

Insider Buying and Selling at Sirius XM

In other 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 completion of the transaction, the director owned 19,969 shares in the company, valued at $432,129.16. This trade represents a 8.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.32% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

A number of hedge funds have recently bought and sold shares of the company. Unified Investment Management lifted its position in shares of Sirius XM by 1.4% in the second quarter. Unified Investment Management now owns 30,407 shares of the company’s stock worth $698,000 after purchasing an additional 425 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Sirius XM by 36.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. True Wealth Design LLC increased its stake in Sirius XM by 47.8% in the 2nd quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock valued at $37,000 after buying an additional 523 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in Sirius XM by 6.5% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 9,934 shares of the company’s stock worth $228,000 after buying an additional 605 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Sirius XM by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 59,982 shares of the company’s stock worth $1,396,000 after buying an additional 663 shares in the last quarter. Institutional investors and hedge funds 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.