Sirius XM Holdings Inc (NASDAQ:SIRI) CEO James E. Meyer sold 1,523,395 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $6.81, for a total transaction of $10,374,319.95. Following the completion of the transaction, the chief executive officer now owns 10,404,922 shares of the company’s stock, valued at $70,857,518.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
NASDAQ:SIRI opened at $6.90 on Thursday. The firm’s fifty day moving average is $6.48 and its 200-day moving average is $6.04. The company has a debt-to-equity ratio of 46.63, a quick ratio of 0.28 and a current ratio of 0.29. Sirius XM Holdings Inc has a 52 week low of $5.23 and a 52 week high of $6.99. The firm has a market cap of $30.30 billion, a P/E ratio of 26.54, a P/E/G ratio of 2.65 and a beta of 1.03.
Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Sirius XM had a net margin of 12.76% and a negative return on equity of 129.67%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sirius XM Holdings Inc will post 0.21 earnings per share for the current year.
Several brokerages have issued reports on SIRI. Barrington Research restated a “buy” rating and issued a $8.00 price target on shares of Sirius XM in a research report on Thursday, October 31st. Zacks Investment Research raised shares of Sirius XM from a “sell” rating to a “hold” rating and set a $7.25 price objective on the stock in a research note on Monday, November 4th. BidaskClub raised shares of Sirius XM from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. ValuEngine raised shares of Sirius XM from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley set a $7.50 price objective on shares of Sirius XM and gave the company a “hold” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. Sirius XM currently has a consensus rating of “Buy” and an average target price of $7.45.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Sirius XM by 20.2% during the second quarter. Invesco Ltd. now owns 48,900,561 shares of the company’s stock worth $272,864,000 after acquiring an additional 8,221,787 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Sirius XM by 4.4% during the third quarter. Eagle Asset Management Inc. now owns 15,818,500 shares of the company’s stock worth $98,944,000 after acquiring an additional 671,928 shares in the last quarter. California Public Employees Retirement System boosted its stake in Sirius XM by 6.0% during the third quarter. California Public Employees Retirement System now owns 12,690,080 shares of the company’s stock worth $79,376,000 after acquiring an additional 714,051 shares in the last quarter. Carillon Tower Advisers Inc. boosted its stake in Sirius XM by 8.4% during the third quarter. Carillon Tower Advisers Inc. now owns 12,160,940 shares of the company’s stock worth $76,067,000 after acquiring an additional 939,435 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Sirius XM by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 7,733,047 shares of the company’s stock worth $43,151,000 after acquiring an additional 211,410 shares in the last quarter. 18.97% of the stock is currently owned by institutional investors and hedge funds.
About Sirius XM
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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