Sirius XM Holdings Target of Unusually High Options Trading (SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the recipient of some unusual options trading on Monday. Stock investors purchased 38,151 put options on the stock. This represents an increase of approximately 1,646% compared to the average daily volume of 2,185 put options.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. BlackRock Inc. boosted its position in Sirius XM Holdings by 3,534.6% in the first quarter. BlackRock Inc. now owns 82,131,614 shares of the company’s stock valued at $422,980,000 after buying an additional 79,871,880 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in Sirius XM Holdings during the first quarter valued at $55,871,000. Acadian Asset Management LLC purchased a new position in Sirius XM Holdings during the first quarter valued at $29,739,000. Credit Agricole S A boosted its position in Sirius XM Holdings by 641.1% in the first quarter. Credit Agricole S A now owns 6,219,924 shares of the company’s stock valued at $32,032,000 after buying an additional 5,380,619 shares during the last quarter. Finally, FMR LLC boosted its position in Sirius XM Holdings by 12.8% in the first quarter. FMR LLC now owns 41,962,057 shares of the company’s stock valued at $216,105,000 after buying an additional 4,772,837 shares during the last quarter. 22.15% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on SIRI shares. Vetr downgraded Sirius XM Holdings from a “strong-buy” rating to a “buy” rating and set a $5.79 price objective for the company. in a research report on Monday, June 19th. Bank of America Corporation reiterated a “buy” rating and issued a $5.50 price objective on shares of Sirius XM Holdings in a research report on Friday, June 16th. Barclays PLC set a $5.00 price objective on Sirius XM Holdings and gave the company a “hold” rating in a research report on Sunday, April 30th. Zacks Investment Research upgraded Sirius XM Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Macquarie reiterated an “outperform” rating and issued a $5.85 price objective on shares of Sirius XM Holdings in a research report on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.25.

Shares of Sirius XM Holdings (NASDAQ SIRI) opened at 5.39 on Thursday. The company has a market cap of $25.14 billion, a P/E ratio of 33.69 and a beta of 1.11. Sirius XM Holdings has a 52-week low of $4.05 and a 52-week high of $5.53. The stock’s 50 day moving average price is $5.34 and its 200-day moving average price is $5.08.

Sirius XM Holdings (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, April 27th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Sirius XM Holdings had a net margin of 15.24% and a negative return on equity of 104.00%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Equities analysts expect that Sirius XM Holdings will post $0.18 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 10th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.74%. Sirius XM Holdings’s payout ratio is currently 26.67%.

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About Sirius XM Holdings

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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