Stock Traders Buy High Volume Sirius XM Call Options (NASDAQ:SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI – Get Rating) saw unusual options trading on Monday. Stock traders bought 43,029 call options on the stock. This is a 252% increase from the typical volume of 12,233 call options.

Insider activity

In other Sirius XM news, Executive Vice President Patrick L. Donnelly sold 408,274 shares in a trade on Thursday August 4th. The stock was sold at an average price of $6.75, for a total transaction 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 $5,341,558.50. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. 0.63% of the shares are currently held by company insiders.

Institutional entries and exits

A number of large investors have recently changed their holdings in the company. Stratos Wealth Partners LTD. increased its stake in Sirius XM by 5.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 34,654 shares of the company worth $229,000 after purchasing an additional 1,712 shares last quarter. Edmond DE Rothschild Holding SA increased its position in Sirius XM shares by 4.3% during the 1st quarter. Edmond DE Rothschild Holding SA now owns 43,859 shares in the company valued at $290,000 after purchasing an additional 1,794 shares last quarter. TD Asset Management Inc. increased its position in Sirius XM shares by 0.5% during the 1st quarter. TD Asset Management Inc. now owns 388,384 shares of the company valued at $2,571,000 after purchasing an additional 1,825 shares last quarter. PNC Financial Services Group Inc. increased its position in Sirius XM shares by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 149,557 shares of the company valued at $989,000 after purchasing an additional 1,845 shares last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Sirius XM by 6.7% during the third quarter. Sequoia Financial Advisors LLC now owns 30,720 shares of the company valued at $175,000 after purchasing an additional 1,941 shares in the last quarter. Hedge funds and other institutional investors own 10.74% of the company’s shares.

Analyst upgrades and downgrades

A number of research analysts have recently commented on SIRI stocks. Citigroup reduced its target price on Sirius XM from $7.60 to $7.50 and placed a “buy” rating on the stock in a Thursday, July 7 research note. StockNews.com began covering Sirius XM in a research note on Wednesday, October 12. They issued a “hold” rating on the stock. Pivotal Research downgraded Sirius XM from a “buy” rating to a “hold” rating and reduced its target price for the company from $7.55 to $7.10 in a Monday, Aug. 1 research note. Finally, Morgan Stanley cut its price target on Sirius XM from $6.50 to $6.00 and set an “underweight” rating on the stock in a Wednesday, October 19 research note. Three investment analysts have assigned the stock a sell rating, three have assigned a hold rating and two have assigned the stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.80.

Sirius XM stock down 1.6%

Shares of SIRI traded down $0.10 during Monday trading hours, hitting $6.07. 1,150,633 shares of the company were traded, compared to its average volume of 18,091,666. Sirius XM has a 12-month low of $5.69 and a 12-month high of $6.88. The stock has a market capitalization of $23.64 billion, a price/earnings ratio of 19.90, a PEG ratio of 2.61 and a beta of 0.92. The stock’s fifty-day simple moving average is $6.06 and its two-hundred-day simple moving average is $6.20.

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

About SiriusXM

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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 broadcast channels.

Further reading

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