Sirius XM Target of Unusually High Options Trading (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Free Report) was the target of unusually large options trading activity on Thursday. Investors purchased 196,909 call options on the company. This represents an increase of approximately 978% compared to the average daily volume of 18,260 call options.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SIRI shares. StockNews.com started coverage on Sirius XM in a report on Thursday, May 18th. They set a “hold” rating on the stock. Barrington Research lowered their price target on Sirius XM from $5.50 to $5.00 in a research report on Wednesday, May 3rd. Morgan Stanley lowered their price target on Sirius XM from $5.40 to $4.40 and set an “underweight” rating on the stock in a research report on Thursday, April 13th. Citigroup lowered their price target on Sirius XM from $4.50 to $3.60 and set a “sell” rating on the stock in a research report on Friday, March 31st. Finally, Pivotal Research decreased their target price on Sirius XM from $5.00 to $4.00 in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.06.

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Sirius XM Price Performance

NASDAQ SIRI opened at $7.81 on Friday. The business has a 50 day simple moving average of $4.11 and a 200 day simple moving average of $4.37. Sirius XM has a one year low of $3.32 and a one year high of $7.95. The stock has a market capitalization of $30.21 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.31 and a beta of 1.01.

Sirius XM (NASDAQ:SIRI – Get Free Report) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Sirius XM had a negative return on equity of 34.09% and a net margin of 12.69%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the company earned $0.08 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Equities analysts expect that Sirius XM will post 0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robin S. Hickenlooper sold 11,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $3.81, for a total value of $41,910.00. Following the completion of the sale, the director now directly owns 94,765 shares in the company, valued at $361,054.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of Sirius XM by 10,934.7% during the 2nd quarter. Pacer Advisors Inc. now owns 24,336,514 shares of the company’s stock valued at $110,244,000 after purchasing an additional 24,115,968 shares during the last quarter. Zimmer Partners LP lifted its holdings in Sirius XM by 295.2% in the 1st quarter. Zimmer Partners LP now owns 12,389,615 shares of the company’s stock worth $49,187,000 after buying an additional 9,254,662 shares during the period. Citigroup Inc. lifted its holdings in Sirius XM by 425.4% in the 1st quarter. Citigroup Inc. now owns 7,008,934 shares of the company’s stock worth $27,825,000 after buying an additional 5,674,832 shares during the period. Norges Bank purchased a new stake in Sirius XM in the 4th quarter worth approximately $31,127,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Sirius XM by 7,185.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,315,335 shares of the company’s stock worth $15,018,000 after acquiring an additional 3,269,829 shares in the last quarter. Hedge funds and other institutional investors own 10.28% of the company’s stock.

Sirius XM Company Profile

(Get Free Report)

Sirius XM Holdings Inc, an audio entertainment company, operates audio business including subscription entertainment services in the United States. It operates through Sirius XM, and Pandora and Off-platform segment. The company's Sirius XM segment provides music, sports, entertainment, comedy, 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 system and streamed via applications for mobile and home devices, and other consumer electronic equipment.

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