Sirius XM Holdings Inc (NASDAQ:SIRI) EVP James Arthur Cady sold 588,503 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $6.13, for a total transaction of $3,607,523.39. Following the sale, the executive vice president now directly owns 1,840,070 shares in the company, valued at $11,279,629.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of SIRI stock traded up $0.04 during trading hours on Thursday, reaching $6.13. The stock had a trading volume of 21,784,641 shares, compared to its average volume of 27,663,754. Sirius XM Holdings Inc has a twelve month low of $5.48 and a twelve month high of $7.70. The stock has a market cap of $27.36 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05.
Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Wednesday, January 30th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Sirius XM had a net margin of 20.38% and a negative return on equity of 76.76%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) EPS. On average, analysts expect that Sirius XM Holdings Inc will post 0.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Monday, February 11th were given a $0.0121 dividend. The ex-dividend date was Friday, February 8th. This represents a $0.05 dividend on an annualized basis and a yield of 0.79%. Sirius XM’s dividend payout ratio is presently 19.23%.
Sirius XM declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 29th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC grew its position in Sirius XM by 2.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 75,089 shares of the company’s stock valued at $429,000 after buying an additional 2,087 shares in the last quarter. Cambridge Advisors Inc. boosted its position in shares of Sirius XM by 3.7% during the 4th quarter. Cambridge Advisors Inc. now owns 58,785 shares of the company’s stock valued at $336,000 after purchasing an additional 2,114 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Sirius XM by 9.1% during the 4th quarter. Cetera Advisor Networks LLC now owns 26,908 shares of the company’s stock valued at $152,000 after purchasing an additional 2,252 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Sirius XM by 13.0% during the 4th quarter. Stephens Inc. AR now owns 20,266 shares of the company’s stock valued at $116,000 after purchasing an additional 2,324 shares in the last quarter. Finally, Tredje AP fonden boosted its position in shares of Sirius XM by 2.4% during the 4th quarter. Tredje AP fonden now owns 117,826 shares of the company’s stock valued at $673,000 after purchasing an additional 2,799 shares in the last quarter. Hedge funds and other institutional investors own 16.91% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Monday, November 26th. B. Riley reissued a “buy” rating on shares of Sirius XM in a report on Tuesday, January 29th. Buckingham Research raised shares of Sirius XM from a “neutral” rating to a “buy” rating in a report on Monday, January 28th. Pivotal Research reissued a “hold” rating and set a $7.00 target price on shares of Sirius XM in a report on Thursday, January 31st. Finally, BidaskClub cut shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Friday, January 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.19.
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Sirius XM Company Profile
Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.
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