Sirius XM Sees Unusually Large Options Volume (SIRI)

Sirius XM Holdings Inc. (NASDAQ:SIRI) saw unusually large options trading on Wednesday. Investors acquired 48,431 call options on the stock. This is an increase of approximately 1,436% compared to the average volume of 3,153 call options.

Sirius XM (NASDAQ:SIRI) opened at $5.48 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.18 and a debt-to-equity ratio of -6.41. The company has a market capitalization of $25,280.00, a P/E ratio of 30.44, a P/E/G ratio of 1.58 and a beta of 1.12. Sirius XM has a 52-week low of $4.52 and a 52-week high of $5.89.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. Sirius XM had a negative return on equity of 93.51% and a net margin of 16.71%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. analysts forecast that Sirius XM will post 0.19 earnings per share for the current fiscal year.

SIRI has been the topic of several recent research reports. Bank of America set a $7.00 price objective on Sirius XM and gave the stock a “buy” rating in a report on Thursday, October 12th. Royal Bank of Canada initiated coverage on Sirius XM in a report on Friday, September 15th. They set a “sector perform” rating and a $6.00 price objective on the stock. Pivotal Research reissued a “buy” rating and set a $6.80 price objective (up previously from $6.25) on shares of Sirius XM in a report on Wednesday, October 25th. Piper Jaffray Companies set a $7.00 target price on Sirius XM and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, Gabelli raised their target price on Sirius XM from $4.75 to $6.10 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $5.94.

In other news, CEO James E. Meyer sold 172,704 shares of Sirius XM stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $5.68, for a total transaction of $980,958.72. Following the sale, the chief executive officer now owns 3,377,085 shares of the company’s stock, valued at approximately $19,181,842.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick L. Donnelly sold 1,374,479 shares of Sirius XM stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $5.70, for a total value of $7,834,530.30. Following the sale, the executive vice president now directly owns 227,430 shares in the company, valued at approximately $1,296,351. The disclosure for this sale can be found here. 1.06% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SIRI. Arrowstreet Capital Limited Partnership raised its position in Sirius XM by 119.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 34,373,843 shares of the company’s stock valued at $188,025,000 after purchasing an additional 18,694,885 shares during the last quarter. Janus Henderson Group PLC raised its position in Sirius XM by 3,767.6% in the 2nd quarter. Janus Henderson Group PLC now owns 9,132,334 shares of the company’s stock valued at $49,953,000 after purchasing an additional 8,896,209 shares during the last quarter. Principal Financial Group Inc. raised its position in Sirius XM by 925.9% in the 2nd quarter. Principal Financial Group Inc. now owns 3,803,755 shares of the company’s stock valued at $20,807,000 after purchasing an additional 3,432,999 shares during the last quarter. Boston Advisors LLC bought a new position in Sirius XM in the 3rd quarter valued at $11,985,000. Finally, APG Asset Management N.V. raised its position in Sirius XM by 23.8% in the 3rd quarter. APG Asset Management N.V. now owns 11,186,062 shares of the company’s stock valued at $61,747,000 after purchasing an additional 2,147,800 shares during the last quarter. Hedge funds and other institutional investors own 19.57% of the company’s stock.

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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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