Sirius XM Sees Unusually High Options Volume (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the recipient of some unusual options trading on Thursday. Stock traders purchased 86,512 call options on the company. This represents an increase of 555% compared to the average daily volume of 13,205 call options.

Analysts Set New Price Targets

A number of research firms recently issued reports on SIRI. Guggenheim decreased their target price on Sirius XM from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Morgan Stanley cut their price target on Sirius XM from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Rosenblatt Securities cut their price target on Sirius XM from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Barrington Research reiterated an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded Sirius XM from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sirius XM has an average rating of “Hold” and a consensus target price of $26.65.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new stake in shares of Sirius XM during the 1st quarter worth $25,000. Putney Financial Group LLC acquired a new stake in Sirius XM in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA acquired a new stake in Sirius XM in the 4th quarter valued at $26,000. First Command Advisory Services Inc. acquired a new stake in Sirius XM in the 4th quarter valued at $30,000. Finally, Geneos Wealth Management Inc. increased its holdings in Sirius XM by 574.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after purchasing an additional 1,144 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $22.73 on Friday. The business’s 50 day simple moving average is $21.57 and its 200-day simple moving average is $23.50. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -3.55, a price-to-earnings-growth ratio of 0.79 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.42 and a quick ratio of 0.42. Sirius XM has a 12 month low of $18.69 and a 12 month high of $41.60.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.11). Sirius XM had a positive return on equity of 13.44% and a negative net margin of 24.03%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $0.07 EPS. Sirius XM’s revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts forecast that Sirius XM will post 3.2 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Friday, May 9th. Sirius XM’s dividend payout ratio is presently -16.56%.

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.