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

Sirius XM Holdings Inc. (NASDAQ:SIRIGet Free Report) saw some unusual options trading on Tuesday. Investors acquired 72,693 put options on the company. This is an increase of approximately 37% compared to the typical daily volume of 53,049 put options.

Sirius XM Price Performance

Sirius XM stock opened at $5.09 on Thursday. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 2.59 and a beta of 1.07. Sirius XM has a fifty-two week low of $3.32 and a fifty-two week high of $7.95. The firm has a fifty day moving average price of $5.21 and a two-hundred day moving average price of $4.83.

Sirius XM (NASDAQ:SIRIGet Free Report) last released its earnings results on Tuesday, October 31st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Sirius XM had a net margin of 14.20% and a negative return on equity of 40.30%. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business earned $0.07 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts expect that Sirius XM will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be issued a dividend of $0.0266 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.11 annualized dividend and a dividend yield of 2.09%. Sirius XM’s payout ratio is 34.38%.

Institutional Trading of Sirius XM

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIRI. abrdn plc increased its stake in Sirius XM by 100.1% in the fourth quarter. abrdn plc now owns 223,911 shares of the company’s stock valued at $1,225,000 after purchasing an additional 111,991 shares in the last quarter. Fidelis Capital Partners LLC lifted its stake in Sirius XM by 33.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 13,783 shares of the company’s stock valued at $75,000 after acquiring an additional 3,453 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Sirius XM during the 4th quarter worth about $941,000. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Sirius XM by 0.6% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock worth $2,123,000 after buying an additional 2,300 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Sirius XM during the 4th quarter worth about $1,669,000. Institutional investors own 10.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company restated an “underweight” rating and set a $4.50 price objective (down from $5.00) on shares of Sirius XM in a research report on Tuesday, January 23rd. StockNews.com assumed coverage on Sirius XM in a research report on Thursday. They set a “hold” rating for the company. Citigroup lifted their price objective on Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a research report on Friday, January 12th. Seaport Res Ptn downgraded Sirius XM from a “buy” rating to a “neutral” rating in a report on Tuesday, October 31st. Finally, Benchmark reaffirmed a “buy” rating and set a $7.00 price target on shares of Sirius XM in a research report on Wednesday, December 13th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.98.

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About Sirius XM

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Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, 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 system and streamed via applications for mobile and home devices, and other consumer electronic equipment.

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