Sirius XM (NASDAQ:SIRI) Sets New 1-Year High – Still a Buy?

Sirius XM Holdings Inc. (NASDAQ:SIRI) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $28.44 and last traded at $28.06, with a volume of 12443184 shares trading hands. The stock had previously closed at $26.18.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SIRI. Moffett Nathanson began coverage on Sirius XM in a research report on Tuesday, January 27th. They issued a “neutral” rating and a $21.00 price objective for the company. UBS Group set a $24.00 price objective on Sirius XM in a research report on Tuesday, February 10th. Weiss Ratings cut Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 6th. Barrington Research reiterated an “outperform” rating and set a $28.00 target price on shares of Sirius XM in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. upgraded Sirius XM from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $24.00 in a research note on Tuesday, February 10th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and an average target price of $24.44.

Sirius XM Stock Performance

The company has a market cap of $9.44 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 0.70 and a beta of 0.85. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average price of $22.80 and a two-hundred day moving average price of $21.77.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 11th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, February 11th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.8%. Sirius XM’s dividend payout ratio (DPR) is 48.21%.

Hedge Funds Weigh In On Sirius XM

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in Sirius XM by 6.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,197 shares of the company’s stock valued at $1,505,000 after acquiring an additional 3,760 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Sirius XM by 8.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 30,531 shares of the company’s stock worth $705,000 after purchasing an additional 2,438 shares in the last quarter. Krilogy Financial LLC lifted its position in Sirius XM by 16.0% during the first quarter. Krilogy Financial LLC now owns 62,154 shares of the company’s stock worth $1,537,000 after purchasing an additional 8,582 shares during the period. Everstar Asset Management LLC lifted its position in Sirius XM by 1.5% during the first quarter. Everstar Asset Management LLC now owns 42,790 shares of the company’s stock worth $988,000 after purchasing an additional 626 shares during the period. Finally, Evolve Private Wealth LLC grew its stake in Sirius XM by 5.5% during the first quarter. Evolve Private Wealth LLC now owns 16,366 shares of the company’s stock worth $378,000 after buying an additional 852 shares in the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.