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

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 53,179 call options on the company. This is an increase of approximately 303% compared to the average daily volume of 13,199 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Sirius XM in a research report on Monday, December 29th. Barrington Research reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Sirius XM in a research note on Monday, November 3rd. Rosenblatt Securities reiterated a “neutral” rating and set a $23.00 target price on shares of Sirius XM in a report on Monday, December 1st. JPMorgan Chase & Co. raised their target price on Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Finally, Benchmark restated a “buy” rating and set a $30.00 price target (up previously from $28.00) on shares of Sirius XM in a report on Friday, October 31st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.29.

Sirius XM Trading Up 0.6%

Shares of SIRI opened at $20.67 on Friday. The firm’s 50-day moving average price is $21.00 and its 200-day moving average price is $22.10. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 0.28 and a beta of 0.93. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.78. Sirius XM has a 1-year low of $18.69 and a 1-year high of $27.41.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.05. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Sirius XM had a net margin of 11.61% and a return on equity of 8.79%. Sirius XM’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned ($8.74) earnings per share. Sell-side analysts anticipate that Sirius XM will post 3.2 EPS for the current year.

Insider Activity

In other news, Director Kristina Salen sold 1,845 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $21.64, for a total value of $39,925.80. Following the transaction, the director owned 19,969 shares in the company, valued at approximately $432,129.16. This trade represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Sound Income Strategies LLC bought a new position in Sirius XM in the third quarter worth $33,000. Quaker Wealth Management LLC grew its position in shares of Sirius XM by 214.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 1,603 shares of the company’s stock worth $37,000 after buying an additional 3,001 shares during the period. True Wealth Design LLC increased its stake in shares of Sirius XM by 47.8% in the 2nd quarter. True Wealth Design LLC now owns 1,616 shares of the company’s stock worth $37,000 after acquiring an additional 523 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Sirius XM by 36.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after acquiring an additional 493 shares during the period. Finally, Mather Group LLC. bought a new stake in Sirius XM during the third quarter worth about $42,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.