Sirius XM Holdings Inc. (NASDAQ:SIRI) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 216,104,802 shares, a decline of 6.7% from the January 12th total of 231,510,150 shares. Based on an average trading volume of 24,402,571 shares, the days-to-cover ratio is currently 8.9 days. Approximately 15.2% of the company’s stock are short sold.
Shares of Sirius XM (NASDAQ:SIRI) traded down $0.03 on Friday, hitting $5.82. The company had a trading volume of 33,649,456 shares, compared to its average volume of 25,342,264. The company has a debt-to-equity ratio of -4.42, a current ratio of 0.17 and a quick ratio of 0.16. Sirius XM has a 52-week low of $4.69 and a 52-week high of $6.28. The stock has a market capitalization of $26,951.19, a PE ratio of 44.00, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 7th will be issued a $0.011 dividend. This represents a $0.04 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, February 6th. Sirius XM’s payout ratio is currently 30.77%.
In other Sirius XM news, CEO James E. Meyer sold 172,704 shares of Sirius XM stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total value of $980,958.72. Following the transaction, the chief executive officer now owns 3,377,085 shares in the company, valued at $19,181,842.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of Sirius XM stock in a transaction dated 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 owns 227,430 shares in the company, valued at approximately $1,296,351. The disclosure for this sale can be found here. Insiders sold 2,586,530 shares of company stock valued at $15,157,263 over the last 90 days. 1.06% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of SIRI. PNC Financial Services Group Inc. grew its holdings in Sirius XM by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 113,475 shares of the company’s stock valued at $621,000 after buying an additional 1,828 shares in the last quarter. Stifel Financial Corp grew its holdings in Sirius XM by 6.0% in the 2nd quarter. Stifel Financial Corp now owns 98,209 shares of the company’s stock valued at $538,000 after buying an additional 5,563 shares in the last quarter. HighTower Advisors LLC grew its holdings in Sirius XM by 9.8% in the 2nd quarter. HighTower Advisors LLC now owns 164,078 shares of the company’s stock valued at $897,000 after buying an additional 14,626 shares in the last quarter. Royal Bank of Canada grew its holdings in Sirius XM by 34.9% in the 2nd quarter. Royal Bank of Canada now owns 516,025 shares of the company’s stock valued at $2,824,000 after buying an additional 133,434 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in Sirius XM by 476.2% in the 2nd quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock valued at $101,000 after buying an additional 15,200 shares in the last quarter. Institutional investors own 19.69% of the company’s stock.
Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on Sirius XM from $5.35 to $5.50 and gave the company an “underweight” rating in a research note on Monday. Goldman Sachs Group boosted their price target on Sirius XM from $5.00 to $5.50 and gave the stock a “buy” rating in a research note on Monday. Buckingham Research boosted their price target on Sirius XM from $6.50 to $7.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Barclays upped their target price on Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Finally, Zacks Investment Research lowered Sirius XM from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sirius XM currently has a consensus rating of “Buy” and an average price target of $6.12.
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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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