Traders Purchase Large Volume of Sirius XM Call Options (NASDAQ:SIRI)
by Teresa Graham · The Cerbat GemSirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 41,683 call options on the stock. This is an increase of approximately 261% compared to the typical daily volume of 11,531 call options.
Sirius XM Price Performance
Sirius XM stock traded down $0.04 during midday trading on Tuesday, hitting $20.30. The company’s stock had a trading volume of 2,100,305 shares, compared to its average volume of 4,111,286. Sirius XM has a 12 month low of $18.69 and a 12 month high of $27.41. 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 $6.83 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.31 and a beta of 0.92. The stock’s 50-day moving average price is $21.36 and its 200-day moving average price is $22.32.
Sirius XM (NASDAQ:SIRI – Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported $0.84 earnings per share for the quarter, topping 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 analysts’ expectations of $2.14 billion. During the same period last year, the firm posted ($8.74) earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that Sirius XM will post 3.2 earnings per share for the current fiscal year.
Sirius XM Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Wednesday, November 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 5.3%. The ex-dividend date was Wednesday, November 5th. Sirius XM’s payout ratio is presently 38.16%.
Analyst Upgrades and Downgrades
SIRI has been the topic of several analyst reports. Barrington Research restated an “outperform” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Monday, November 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $23.00 target price on shares of Sirius XM in a research report on Monday, December 1st. JPMorgan Chase & Co. boosted their price target on Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Benchmark reissued a “buy” rating and issued a $30.00 price target (up previously from $28.00) on shares of Sirius XM in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Sirius XM in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.29.
View Our Latest Research Report on Sirius XM
Insider Transactions at Sirius XM
In other Sirius XM news, Director Kristina Salen sold 1,845 shares of the stock in a transaction on Monday, November 3rd. The stock was 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 $432,129.16. This trade represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Sirius XM
Hedge funds have recently made changes to their positions in the company. Berkshire Hathaway Inc raised its stake in Sirius XM by 4.2% during the 3rd quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock valued at $2,904,886,000 after purchasing an additional 5,030,425 shares during the period. AQR Capital Management LLC grew its holdings in shares of Sirius XM by 165.2% during the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after buying an additional 3,233,922 shares in the last quarter. Ameriprise Financial Inc. raised its position in Sirius XM by 4.8% during the third quarter. Ameriprise Financial Inc. now owns 2,635,274 shares of the company’s stock valued at $61,336,000 after buying an additional 119,755 shares during the period. Check Capital Management Inc. CA lifted its stake in Sirius XM by 76.7% in the 3rd quarter. Check Capital Management Inc. CA now owns 2,061,843 shares of the company’s stock worth $47,989,000 after acquiring an additional 895,247 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in Sirius XM by 270.0% during the 3rd quarter. Two Sigma Investments LP now owns 1,933,521 shares of the company’s stock worth $45,003,000 after acquiring an additional 1,410,963 shares during the period. 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.