Sirius XM Holdings Inc. (SIRI) Sees Large Drop in Short Interest

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 237,419,560 shares, a drop of 5.6% from the August 15th total of 251,422,520 shares. Approximately 16.5% of the company’s stock are sold short. Based on an average daily volume of 13,961,699 shares, the days-to-cover ratio is presently 17.0 days.

SIRI has been the subject of several recent research reports. Vetr lowered shares of Sirius XM Holdings from a “buy” rating to a “sell” rating and set a $5.12 price objective for the company. in a research note on Monday, May 29th. Bank of America Corporation reissued a “buy” rating and issued a $5.50 price objective on shares of Sirius XM Holdings in a research note on Friday, June 16th. BidaskClub raised shares of Sirius XM Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Finally, Zacks Investment Research lowered shares of Sirius XM Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Sirius XM Holdings presently has a consensus rating of “Buy” and an average price target of $5.75.

A number of institutional investors and hedge funds have recently made changes to their positions in SIRI. Macquarie Group Ltd. lifted its stake in Sirius XM Holdings by 476.2% during the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock worth $101,000 after purchasing an additional 15,200 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Sirius XM Holdings by 1.5% during the first quarter. Miracle Mile Advisors LLC now owns 19,880 shares of the company’s stock worth $102,000 after purchasing an additional 300 shares during the last quarter. Pitcairn Co. lifted its stake in Sirius XM Holdings by 1.3% during the second quarter. Pitcairn Co. now owns 18,708 shares of the company’s stock worth $102,000 after purchasing an additional 237 shares during the last quarter. Colony Group LLC bought a new position in Sirius XM Holdings during the second quarter worth $102,000. Finally, Toronto Dominion Bank lifted its stake in Sirius XM Holdings by 9.7% during the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock worth $111,000 after purchasing an additional 1,799 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Shares of Sirius XM Holdings (NASDAQ:SIRI) opened at 5.47 on Wednesday. Sirius XM Holdings has a 12-month low of $4.05 and a 12-month high of $5.89. The firm has a market cap of $25.23 billion, a PE ratio of 32.18 and a beta of 1.08. The firm’s 50-day moving average is $5.58 and its 200-day moving average is $5.29.

Sirius XM Holdings (NASDAQ:SIRI) last released its earnings results on Thursday, July 27th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Sirius XM Holdings had a negative return on equity of 99.07% and a net margin of 15.47%. During the same period in the prior year, the business posted $0.04 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Sirius XM Holdings will post $0.18 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 10th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, August 8th. Sirius XM Holdings’s dividend payout ratio (DPR) is presently 25.00%.

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Sirius XM Holdings Company Profile

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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