Traders Purchase High Volume of Sirius XM Call Options (SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 48,431 call options on the stock. This is an increase of 1,436% compared to the average daily volume of 3,153 call options.

Several research firms have weighed in on SIRI. Royal Bank of Canada set a $6.00 price target on Sirius XM and gave the stock a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded Sirius XM from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Barrington Research downgraded Sirius XM from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. downgraded Sirius XM from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $5.36 to $5.00 in a research report on Tuesday, January 2nd. Finally, BidaskClub downgraded Sirius XM from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.94.

In related news, CEO James E. Meyer sold 172,704 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total value of $980,958.72. Following the completion of the transaction, the chief executive officer now directly owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $5.70, for a total value of $7,834,530.30. Following the completion of the transaction, the executive vice president now directly owns 227,430 shares of the company’s stock, valued at $1,296,351. The disclosure for this sale can be found here. Company insiders own 1.06% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its holdings in shares of Sirius XM by 476.2% during the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after purchasing an additional 15,200 shares during the last quarter. Colony Group LLC acquired a new stake in shares of Sirius XM during the second quarter worth $102,000. Toronto Dominion Bank boosted its holdings in shares of Sirius XM by 9.7% during the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after purchasing an additional 1,799 shares during the last quarter. Kalos Management Inc. acquired a new stake in shares of Sirius XM during the third quarter worth $114,000. Finally, AE Wealth Management LLC boosted its holdings in shares of Sirius XM by 72.7% during the third quarter. AE Wealth Management LLC now owns 23,579 shares of the company’s stock worth $130,000 after purchasing an additional 9,924 shares during the last quarter. Institutional investors and hedge funds own 19.57% of the company’s stock.

Shares of Sirius XM (SIRI) opened at $5.48 on Friday. Sirius XM has a fifty-two week low of $4.52 and a fifty-two week high of $5.89. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of -6.41. The stock has a market capitalization of $25,280.00, a price-to-earnings ratio of 30.44, a PEG ratio of 1.58 and a beta of 1.12.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm earned $0.04 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. research analysts expect that Sirius XM will post 0.19 EPS for the current fiscal year.

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About Sirius XM

Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.

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