Sirius XM Holdings Inc (NASDAQ:SIRI) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 179,936,831 shares, an increase of 3.0% from the February 15th total of 174,739,408 shares. Based on an average daily volume of 24,554,007 shares, the days-to-cover ratio is currently 7.3 days. Approximately 11.5% of the company’s shares are short sold.

Sirius XM stock opened at $6.09 on Thursday. The company has a market capitalization of $27.58 billion, a PE ratio of 23.42, a P/E/G ratio of 2.45 and a beta of 1.04. Sirius XM has a twelve month low of $5.48 and a twelve month high of $7.70.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Wednesday, January 30th. The company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Sirius XM had a net margin of 20.38% and a negative return on equity of 76.76%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Sell-side analysts expect that Sirius XM will post 0.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 28th. Stockholders of record on Monday, February 11th were issued a $0.0121 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 8th. Sirius XM’s dividend payout ratio (DPR) is presently 19.23%.

Sirius XM announced that its Board of Directors has approved a share buyback program on Tuesday, January 29th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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

Hedge funds have recently made changes to their positions in the company. United Services Automobile Association lifted its position in shares of Sirius XM by 1.4% in the third quarter. United Services Automobile Association now owns 1,723,048 shares of the company’s stock worth $10,890,000 after purchasing an additional 23,367 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Sirius XM by 6.4% in the third quarter. Nordea Investment Management AB now owns 5,235,888 shares of the company’s stock worth $33,090,000 after purchasing an additional 313,424 shares in the last quarter. Virginia National Bank bought a new stake in shares of Sirius XM in the third quarter worth $360,000. TrimTabs Asset Management LLC bought a new stake in shares of Sirius XM in the fourth quarter worth $979,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Sirius XM by 11.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 496,400 shares of the company’s stock worth $2,835,000 after purchasing an additional 51,095 shares in the last quarter. 17.36% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Sirius XM from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a report on Thursday, November 15th. BidaskClub upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a report on Tuesday, December 11th. Barclays set a $6.00 price target on shares of Sirius XM and gave the company a “sell” rating in a report on Saturday, February 2nd. Pivotal Research reiterated a “hold” rating and issued a $7.00 price target on shares of Sirius XM in a report on Thursday, January 31st. Finally, B. Riley reiterated a “buy” rating on shares of Sirius XM in a report on Tuesday, January 29th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus 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, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, 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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