Sirius XM Holdings Inc. (SIRI) Sees Large Growth in Short Interest
Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 276,899,958 shares, a growth of 21.5% from the October 31st total of 227,921,320 shares. Based on an average daily trading volume, of 55,548,799 shares, the days-to-cover ratio is presently 5.0 days. Approximately 16.8% of the company’s shares are short sold.
Several analysts recently commented on the company. Macquarie reaffirmed an “outperform” rating and set a $4.85 price objective on shares of Sirius XM Holdings in a research note on Friday, September 23rd. Zacks Investment Research downgraded Sirius XM Holdings from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Citigroup Inc. raised their price objective on Sirius XM Holdings from $4.50 to $4.85 and gave the stock a “buy” rating in a research note on Thursday, August 18th. BTIG Research assumed coverage on Sirius XM Holdings in a research note on Tuesday, November 22nd. They set a “neutral” rating on the stock. Finally, Wunderlich reaffirmed a “buy” rating and set a $5.00 price objective on shares of Sirius XM Holdings in a research note on Sunday, September 4th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $4.84.
Shares of Sirius XM Holdings (NASDAQ:SIRI) opened at 4.605 on Friday. Sirius XM Holdings has a one year low of $3.29 and a one year high of $4.65. The stock’s 50 day moving average price is $4.27 and its 200-day moving average price is $4.14. The company has a market cap of $22.22 billion, a PE ratio of 35.698 and a beta of 1.24.
Sirius XM Holdings (NASDAQ:SIRI) last announced its earnings results on Thursday, October 27th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. Sirius XM Holdings had a net margin of 13.70% and a negative return on equity of 133.77%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, analysts expect that Sirius XM Holdings will post $0.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 9th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.87%. The ex-dividend date is Monday, November 7th. Sirius XM Holdings’s payout ratio is currently 30.77%.
Large investors have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in Sirius XM Holdings by 3.3% in the second quarter. American Century Companies Inc. now owns 52,174,232 shares of the company’s stock valued at $206,088,000 after buying an additional 1,668,713 shares during the last quarter. General Electric Co. raised its stake in Sirius XM Holdings by 3.2% in the second quarter. General Electric Co. now owns 22,710,105 shares of the company’s stock valued at $89,705,000 after buying an additional 714,474 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Sirius XM Holdings by 61.7% in the second quarter. JPMorgan Chase & Co. now owns 21,962,783 shares of the company’s stock valued at $86,753,000 after buying an additional 8,381,053 shares during the last quarter. BlackRock Fund Advisors raised its stake in Sirius XM Holdings by 0.5% in the third quarter. BlackRock Fund Advisors now owns 17,419,226 shares of the company’s stock valued at $72,638,000 after buying an additional 79,400 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Sirius XM Holdings by 6,232.1% in the third quarter. Victory Capital Management Inc. now owns 15,325,778 shares of the company’s stock valued at $63,908,000 after buying an additional 15,083,746 shares during the last quarter. 20.28% of the stock is currently owned by institutional investors and hedge funds.
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About Sirius XM Holdings
Sirius XM Radio Inc broadcasts its music, sports, entertainment, comedy, talk, news, traffic and weather channels in the United States on a subscription fee basis through its two satellite radio systems. Subscribers can also receive certain of its music and other channels over the Internet, including through applications for mobile devices.
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