Investors Buy Shares of Sirius XM (SIRI) on Weakness

Traders bought shares of Sirius XM Holdings Inc (NASDAQ:SIRI) on weakness during trading on Monday. $125.38 million flowed into the stock on the tick-up and $78.29 million flowed out of the stock on the tick-down, for a money net flow of $47.09 million into the stock. Of all companies tracked, Sirius XM had the 24th highest net in-flow for the day. Sirius XM traded down ($0.72) for the day and closed at $6.26

A number of brokerages have recently weighed in on SIRI. Barrington Research reiterated a “buy” rating and issued a $8.00 price objective on shares of Sirius XM in a research report on Monday. Macquarie reiterated a “buy” rating and issued a $7.75 price objective on shares of Sirius XM in a research report on Thursday. BidaskClub lowered Sirius XM from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley lifted their price objective on Sirius XM from $6.00 to $6.20 and gave the stock an “underweight” rating in a research report on Monday, August 6th. Finally, Zacks Investment Research lowered Sirius XM from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Four analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.78.

The company has a market cap of $31.35 billion, a P/E ratio of 31.80, a P/E/G ratio of 1.87 and a beta of 1.04. The company has a debt-to-equity ratio of -4.70, a current ratio of 0.16 and a quick ratio of 0.16.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Wednesday, July 25th. The company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Sirius XM had a negative return on equity of 78.24% and a net margin of 14.68%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 EPS. analysts forecast that Sirius XM Holdings Inc will post 0.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 10th were paid a $0.011 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, August 9th. Sirius XM’s payout ratio is presently 20.00%.

In other Sirius XM news, EVP Stephen Cook sold 415,502 shares of Sirius XM stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $7.20, for a total transaction of $2,991,614.40. Following the completion of the transaction, the executive vice president now owns 1,988,300 shares in the company, valued at $14,315,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. V Wealth Management LLC purchased a new position in Sirius XM during the second quarter valued at $108,000. Burney Co. purchased a new position in Sirius XM during the second quarter valued at $108,000. OppenheimerFunds Inc. purchased a new position in Sirius XM during the second quarter valued at $109,000. Verition Fund Management LLC purchased a new position in Sirius XM during the second quarter valued at $111,000. Finally, Fort L.P. purchased a new position in Sirius XM during the second quarter valued at $116,000. Institutional investors and hedge funds own 18.50% of the company’s stock.

Sirius XM Company Profile (NASDAQ:SIRI)

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to 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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