Sirius XM Sees Unusually High Options Volume (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of some unusual options trading on Friday. Traders acquired 48,916 call options on the stock. This is an increase of 188% compared to the average daily volume of 17,008 call options.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Rosenblatt Securities lifted their price objective on shares of Sirius XM from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, February 6th. Weiss Ratings downgraded shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 6th. Moffett Nathanson began coverage on Sirius XM in a research report on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 price target on the stock. UBS Group set a $24.00 price objective on Sirius XM in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. raised Sirius XM from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $20.00 to $24.00 in a research report on Tuesday, February 10th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average target price of $24.44.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SIRI. Geneos Wealth Management Inc. lifted its holdings in Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after purchasing an additional 493 shares in the last quarter. Krilogy Financial LLC grew its holdings in shares of Sirius XM by 1.1% during the fourth quarter. Krilogy Financial LLC now owns 53,572 shares of the company’s stock worth $1,097,000 after buying an additional 577 shares in the last quarter. Rossby Financial LCC raised its position in shares of Sirius XM by 57.7% in the fourth quarter. Rossby Financial LCC now owns 1,621 shares of the company’s stock valued at $32,000 after buying an additional 593 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Sirius XM by 4.6% during the fourth quarter. SBI Securities Co. Ltd. now owns 13,589 shares of the company’s stock valued at $272,000 after buying an additional 594 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Sirius XM by 6.5% during the second quarter. J.W. Cole Advisors Inc. now owns 9,934 shares of the company’s stock valued at $228,000 after buying an additional 605 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Price Performance

NASDAQ SIRI traded down $0.11 during mid-day trading on Friday, hitting $22.84. The stock had a trading volume of 2,571,616 shares, compared to its average volume of 4,848,226. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 0.39 and a beta of 0.92. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.75. Sirius XM has a 52-week low of $18.69 and a 52-week high of $24.92. The company has a 50 day simple moving average of $21.46 and a 200 day simple moving average of $21.64.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Wednesday, February 11th. Sirius XM’s dividend payout ratio is currently 48.21%.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.