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Sirius XM (NASDAQ:SIRI) Reaches New 52-Week Low - Should You Sell?

Sirius XM logo with Consumer Discretionary background

Sirius XM Holdings Inc. (NASDAQ:SIRI - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $21.88 and last traded at $21.91, with a volume of 2065502 shares changing hands. The stock had previously closed at $22.64.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SIRI. Bank of America reiterated an "underperform" rating and set a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. Rosenblatt Securities increased their target price on Sirius XM from $28.00 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, December 11th. Morgan Stanley reiterated an "underweight" rating and issued a $23.00 price objective on shares of Sirius XM in a research note on Tuesday, September 24th. Pivotal Research cut their target price on shares of Sirius XM from $40.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, Citigroup increased their price target on shares of Sirius XM from $2.80 to $21.00 and gave the stock a "sell" rating in a research report on Thursday, September 26th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $28.27.

View Our Latest Report on Sirius XM

Sirius XM Trading Down 1.3 %

The stock has a fifty day simple moving average of $26.32 and a 200 day simple moving average of $28.49. The firm has a market capitalization of $7.58 billion, a P/E ratio of -3.52 and a beta of 1.03. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.27 per share. This is a positive change from Sirius XM's previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date was Tuesday, November 5th. Sirius XM's dividend payout ratio (DPR) is -17.03%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the company's stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the purchase, the insider now owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This represents a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 2,646,761 shares of company stock worth $65,952,329 over the last quarter. Insiders own 0.79% of the company's stock.

Institutional Trading of Sirius XM

Several hedge funds have recently modified their holdings of SIRI. Franklin Resources Inc. lifted its stake in shares of Sirius XM by 209.1% in the 3rd quarter. Franklin Resources Inc. now owns 87,201 shares of the company's stock valued at $2,062,000 after purchasing an additional 58,993 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Sirius XM during the third quarter worth $5,489,000. Rehmann Capital Advisory Group boosted its stake in Sirius XM by 25.5% during the third quarter. Rehmann Capital Advisory Group now owns 21,763 shares of the company's stock worth $521,000 after buying an additional 4,428 shares during the period. TD Private Client Wealth LLC bought a new position in Sirius XM during the third quarter valued at $371,000. Finally, Aequim Alternative Investments LP purchased a new stake in shares of Sirius XM in the third quarter valued at $6,932,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

(Get Free Report)

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.

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