Stock traders buy high volume of put options on Sirius XM (NASDAQ:SIRI)


Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) was the beneficiary of unusually heavy options trading on Thursday. Stock traders bought 101,326 put options on the company. This is a 1,098% increase from the average volume of 8,459 put options.

Wall Street analysts predict growth

A number of brokerages have weighed in on SIRI recently. Citigroup lowered its price target on Sirius XM from $7.60 to $7.50 and set a “buy” rating on the stock in a Thursday, July 7 research note. Pivotal Research downgraded Sirius XM from a “buy” rating to a “hold” rating and lowered its target price for the company from $7.55 to $7.10 in a Monday, Aug. 1 research note. Finally, StockNews.com upgraded Sirius XM from a “buy” rating to a “hold” rating in a Monday, May 2 research note. Three analysts gave the stock a sell rating, three gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, Sirius XM currently has a consensus rating of “Hold” and an average price target of $6.94.

Insider buying and selling

In related news, Executive Vice President Patrick L. Donnelly sold 408,274 shares of Sirius XM in a trade dated Thursday, August 4. The stock was sold at an average price of $6.75, for a total transaction of $2,755,849.50. Following the transaction, the executive vice president now directly owns 791,342 shares of the company, valued at $5,341,558.50. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. In related news, Vice Chairman Thomas D. Barry sold 40,793 shares of Sirius XM in a trade dated Friday, July 29. The stock was sold at an average price of $6.51, for a total value of $265,562.43. As a result of the transaction, the vice president now owns 1,111,973 shares of the company, valued at approximately $7,238,944.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Executive Vice President Patrick L. Donnelly sold 408,274 shares of Sirius XM in a trade dated Thursday, August 4. The stock was sold at an average price of $6.75, for a total value of $2,755,849.50. Following the completion of the transaction, the executive vice president now directly owns 791,342 shares of the company, valued at approximately $5,341,558.50. The disclosure of this sale can be found here. Insiders sold a total of 1,530,437 shares of the company valued at $10,136,827 over the past three months. Insiders of the company own 0.63% of the shares of the company.

Institutional investors weigh in on Sirius XM

Several institutional investors and hedge funds have recently increased or reduced their stake in SIRI. Covestor Ltd acquired a new stake in Sirius XM in Q4 worth approximately $26,000. Exchange Traded Concepts LLC acquired a new position in Sirius XM stock during the second quarter worth approximately $26,000. Bank of New Hampshire acquired a new position in Sirius XM stock during the first quarter worth approximately $33,000. Quent Capital LLC acquired a new position in Sirius XM stock during the first quarter worth approximately $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Sirius XM shares during the first quarter worth approximately $45,000. 11.79% of the shares are currently held by institutional investors and hedge funds.

Sirius XM Stock Performance

NASDAQ SIRI shares opened at $6.24 on Thursday. The stock has a market capitalization of $24.30 billion, a price/earnings ratio of 20.13, a PEG ratio of 2.13 and a beta of 0.93. The company has a 50-day simple moving average of $6.36 and a 200-day simple moving average of $6.30. Sirius XM has a 52 week low of $5.69 and a 52 week high of $6.88.

Sirius XM (NASDAQ:SIRI – Get Rating) last announced its quarterly results on Thursday, July 28. The company reported EPS of $0.07 for the quarter, missing the consensus estimate of $0.08 per ($0.01). Sirius XM had a net margin of 14.15% and a negative return on equity of 40.89%. The company posted revenue of $2.25 billion in the quarter, versus a consensus estimate of $2.25 billion. During the same period a year earlier, the company posted EPS of $0.10. The company’s quarterly revenue increased by 4.4% compared to the same quarter last year. On average, analysts predict Sirius XM will post 0.32 EPS for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 31. Investors of record on Friday, August 5 will receive a dividend of $0.022. The ex-date of this dividend is Thursday, August 4. This represents an annualized dividend of $0.09 and a yield of 1.41%. Sirius XM’s dividend payout ratio (DPR) is currently 29.03%.

SiriusXM Company Profile

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Sirius XM Holdings Inc provides satellite radio services for a subscription fee in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic and weather channels, including various musical genres, such as rock, pop and hip-hop, country , dance, jazz, Latin and classical; live play-by-play sports from various leagues and colleges; various chat and entertainment channels for a wide range of audiences; national, international and financial news; and limited edition chains.

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