Short Interest in Sirius XM Holdings Inc. (SIRI) Decreases By 2.2%

Sirius XM Holdings Inc. (NASDAQ:SIRI) saw a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 223,832,836 shares, a drop of 2.2% from the December 15th total of 228,922,191 shares. Based on an average daily volume of 17,588,510 shares, the days-to-cover ratio is currently 12.7 days. Currently, 15.7% of the shares of the stock are short sold.

Several brokerages recently issued reports on SIRI. B. Riley reissued a “buy” rating on shares of Sirius XM in a research note on Wednesday, November 1st. Barrington Research cut Sirius XM from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Royal Bank of Canada set a $6.00 price target on Sirius XM and gave the company a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research cut Sirius XM from a “hold” rating to a “sell” rating in a report on Friday, January 5th. Finally, JPMorgan Chase & Co. cut Sirius XM from a “neutral” rating to an “underweight” rating and cut their price target for the company from $5.36 to $5.00 in a report on Tuesday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.94.

Sirius XM (SIRI) opened at $5.48 on Tuesday. The company has a market capitalization of $25,190.00, a P/E ratio of 30.44, a PEG ratio of 1.31 and a beta of 1.12. The company has a quick ratio of 0.18, a current ratio of 0.19 and a debt-to-equity ratio of -6.41. Sirius XM has a 1-year low of $4.54 and a 1-year high of $5.89.

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

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

Institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP boosted its holdings in shares of Sirius XM by 603.6% in the 2nd quarter. Engineers Gate Manager LP now owns 97,890 shares of the company’s stock worth $535,000 after purchasing an additional 83,978 shares during the period. Swiss National Bank boosted its holdings in shares of Sirius XM by 0.5% in the 3rd quarter. Swiss National Bank now owns 6,046,258 shares of the company’s stock worth $33,375,000 after purchasing an additional 27,200 shares during the period. Chevy Chase Trust Holdings Inc. boosted its holdings in shares of Sirius XM by 19.2% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 5,419,576 shares of the company’s stock worth $29,915,000 after purchasing an additional 874,255 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sirius XM by 9.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 423,790 shares of the company’s stock worth $2,339,000 after purchasing an additional 36,867 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Sirius XM by 5.7% in the 3rd quarter. Pictet Asset Management Ltd. now owns 784,400 shares of the company’s stock worth $4,330,000 after purchasing an additional 42,100 shares during the period. Hedge funds and other institutional investors own 19.64% of the company’s stock.

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Sirius XM Company Profile

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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