Sirius XM Holdings Inc (SIRI) Sees Significant Increase in Short Interest

Sirius XM Holdings Inc (NASDAQ:SIRI) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 275,465,225 shares, an increase of 10.8% from the January 15th total of 248,544,109 shares. Currently, 23.5% of the shares of the company are sold short. Based on an average trading volume of 30,829,771 shares, the days-to-cover ratio is presently 8.9 days.

In other Sirius XM news, EVP Stephen Cook sold 56,118 shares of the stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $6.13, for a total transaction of $344,003.34. Following the completion of the transaction, the executive vice president now directly owns 1,445,007 shares of the company’s stock, valued at approximately $8,857,892.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas D. Barry sold 48,513 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $6.06, for a total value of $293,988.78. Following the transaction, the vice president now directly owns 462,465 shares of the company’s stock, valued at $2,802,537.90. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in shares of Sirius XM in the fourth quarter worth $41,000. Bruderman Asset Management LLC boosted its position in shares of Sirius XM by 268.3% in the fourth quarter. Bruderman Asset Management LLC now owns 8,567 shares of the company’s stock worth $49,000 after buying an additional 6,241 shares during the period. CWM LLC boosted its position in shares of Sirius XM by 127.2% in the fourth quarter. CWM LLC now owns 8,959 shares of the company’s stock worth $51,000 after buying an additional 5,015 shares during the period. Hurlow Wealth Management Group Inc. acquired a new stake in shares of Sirius XM in the fourth quarter worth $58,000. Finally, Institute for Wealth Management LLC. acquired a new stake in shares of Sirius XM in the fourth quarter worth $63,000. 17.35% of the stock is owned by institutional investors and hedge funds.

Shares of SIRI traded down $0.07 during trading hours on Monday, hitting $5.86. 18,536,559 shares of the company were exchanged, compared to its average volume of 29,038,314. The firm has a market cap of $26.79 billion, a PE ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.04. Sirius XM has a one year low of $5.48 and a one year high of $7.70.

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 consensus estimate of $0.06. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Sirius XM had a negative return on equity of 76.76% and a net margin of 20.38%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company posted ($0.01) EPS. On average, equities research analysts expect that Sirius XM will post 0.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Monday, February 11th will be paid a dividend of $0.0121 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, February 8th. Sirius XM’s dividend payout ratio is presently 19.23%.

Sirius XM announced that its board has authorized a stock repurchase program on Tuesday, January 29th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

A number of brokerages have issued reports on SIRI. Zacks Investment Research lowered Sirius XM from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub raised Sirius XM from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. B. Riley reaffirmed a “buy” rating on shares of Sirius XM in a research note on Tuesday, January 29th. Buckingham Research raised Sirius XM from a “neutral” rating to a “buy” rating in a research note on Monday, January 28th. Finally, Pivotal Research reaffirmed a “hold” rating and set a $7.00 price target on shares of Sirius XM in a research note on Wednesday, October 24th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average 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 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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