Sirius XM Holdings Inc. (NASDAQ:SIRI) EVP Joseph A. Verbrugge sold 863,570 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $6.10, for a total value of $5,267,777.00. Following the sale, the executive vice president now owns 2,986,689 shares of the company’s stock, valued at $18,218,802.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Sirius XM Holdings Inc. (SIRI) opened at $5.85 on Tuesday. The company has a debt-to-equity ratio of -4.42, a quick ratio of 0.16 and a current ratio of 0.17. The stock has a market capitalization of $26,142.65, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 1.62 and a beta of 1.17. Sirius XM Holdings Inc. has a one year low of $4.72 and a one year high of $6.28.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.011 per share. The ex-dividend date is Tuesday, February 6th. This represents a $0.04 annualized dividend and a yield of 0.75%. Sirius XM’s dividend payout ratio (DPR) is 30.77%.
Sirius XM announced that its board has initiated a stock repurchase program on Tuesday, January 23rd that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. increased its stake in Sirius XM by 476.2% during the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after acquiring an additional 15,200 shares during the last quarter. Colony Group LLC acquired a new stake in shares of Sirius XM in the second quarter valued at $102,000. Valmark Advisers Inc. grew its stake in shares of Sirius XM by 102.3% in the fourth quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock valued at $108,000 after buying an additional 10,230 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Sirius XM by 9.7% in the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock valued at $111,000 after buying an additional 1,799 shares in the last quarter. Finally, Kalos Management Inc. acquired a new stake in shares of Sirius XM in the third quarter valued at $114,000. 20.32% of the stock is owned by institutional investors.
Several analysts recently commented on the company. Deutsche Bank raised Sirius XM from a “hold” rating to a “buy” rating and raised their target price for the stock from $5.25 to $6.50 in a report on Friday, January 19th. Gabelli raised their target price on Sirius XM from $4.75 to $6.10 and gave the stock a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded Sirius XM from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Thursday, November 2nd. BidaskClub downgraded Sirius XM from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Finally, Barclays raised their target price on Sirius XM from $4.50 to $5.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $6.12.
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About Sirius XM
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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