Sirius XM (NASDAQ:SIRI) Shares Gap Down to $3.72

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares gapped down prior to trading on Monday . The stock had previously closed at $3.72, but opened at $3.64. Sirius XM shares last traded at $3.58, with a volume of 454,603 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SIRI shares. Rosenblatt Securities dropped their price objective on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. Barrington Research reissued an “outperform” rating and issued a $4.75 price objective on shares of Sirius XM in a report on Monday, July 15th. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and dropped their price objective for the stock from $4.25 to $3.25 in a report on Monday, June 24th. Finally, Guggenheim dropped their price objective on shares of Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.07.

Sirius XM Price Performance

The stock has a market cap of $13.85 billion, a P/E ratio of 11.27, a PEG ratio of 1.21 and a beta of 1.08. The firm’s 50-day moving average price is $3.06 and its 200-day moving average price is $3.74.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. Sell-side analysts expect that Sirius XM Holdings Inc. will post 0.31 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be given a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, August 9th. Sirius XM’s payout ratio is currently 33.33%.

Insider Activity

In other news, Director Kristina Salen sold 12,518 shares of Sirius XM stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the sale, the director now owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Sirius XM by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc grew its holdings in shares of Sirius XM by 315.6% in the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Sirius XM by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after purchasing an additional 218,211 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Sirius XM by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock worth $20,693,000 after buying an additional 143,185 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after buying an additional 768,570 shares during the period. 10.69% of the stock is owned by hedge funds and other institutional investors.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.