Sirius XM (NASDAQ:SIRI) Sets New 52-Week High – Should You Buy?

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.16 and last traded at $30.75, with a volume of 5102034 shares. The stock had previously closed at $30.51.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Rosenblatt Securities decreased their price target on shares of Sirius XM from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Guggenheim reiterated a “buy” rating on shares of Sirius XM in a research report on Wednesday, June 17th. Evercore set a $28.00 price objective on shares of Sirius XM in a research note on Friday, May 1st. Finally, Barrington Research boosted their target price on shares of Sirius XM from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.45.

Sirius XM Trading Up 0.8%

The stock has a market cap of $10.35 billion, a PE ratio of 12.97, a PEG ratio of 0.66 and a beta of 0.95. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.44 and a current ratio of 0.44. The stock has a fifty day moving average price of $27.83 and a 200 day moving average price of $23.98.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.Sirius XM’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Equities analysts expect that Sirius XM Holdings Inc. will post 3.1 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 11th were given a dividend of $0.27 per share. The ex-dividend date was Monday, May 11th. This represents a $1.08 dividend on an annualized basis and a yield of 3.5%. Sirius XM’s payout ratio is 45.57%.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the completion of the sale, the insider owned 20,163 shares in the company, valued at approximately $601,462.29. This trade represents a 50.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.27% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its stake in Sirius XM by 158.5% in the first quarter. Sunbelt Securities Inc. now owns 1,295 shares of the company’s stock worth $30,000 after purchasing an additional 794 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of Sirius XM by 612.8% during the first quarter. Root Financial Partners LLC now owns 1,390 shares of the company’s stock valued at $32,000 after buying an additional 1,195 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Sirius XM during the first quarter valued at approximately $33,000. Altshuler Shaham Ltd raised its holdings in shares of Sirius XM by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock worth $36,000 after buying an additional 417 shares during the period. Finally, Rossby Financial LCC raised its holdings in shares of Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock worth $32,000 after buying an additional 593 shares during the period. 10.69% of the stock is currently owned by institutional investors.

About Sirius XM

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.