Investors Purchase Large Volume of Sirius XM Put Options (SIRI)

Investors Purchase Large Volume of Sirius XM Put Options (SIRI)

Sirius XM Holdings Inc (NASDAQ:SIRI) saw some unusual options trading activity on Tuesday. Traders purchased 16,335 put options on the stock. This is an increase of approximately 1,155% compared to the typical daily volume of 1,302 put options.

Hedge funds have recently added to or reduced their stakes in the business. Burney Co. purchased a new position in Sirius XM in the 2nd quarter worth approximately $108,000. OppenheimerFunds Inc. purchased a new position in Sirius XM in the 2nd quarter worth approximately $109,000. BTR Capital Management Inc. purchased a new position in Sirius XM in the 3rd quarter worth approximately $104,000. Verition Fund Management LLC bought a new stake in shares of Sirius XM in the 2nd quarter worth approximately $111,000. Finally, Fort L.P. bought a new stake in shares of Sirius XM in the 2nd quarter worth approximately $116,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SIRI opened at $6.19 on Thursday. The company has a market cap of $27.98 billion, a P/E ratio of 30.95, a PEG ratio of 1.63 and a beta of 1.06. Sirius XM has a 12 month low of $5.17 and a 12 month high of $7.70.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Wednesday, October 24th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Sirius XM had a net margin of 15.64% and a negative return on equity of 78.49%. Sirius XM’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. As a group, equities analysts forecast that Sirius XM will post 0.26 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 9th were paid a $0.0121 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, November 8th. This is a boost from Sirius XM’s previous quarterly dividend of $0.01. Sirius XM’s payout ratio is currently 25.00%.

SIRI has been the topic of several research reports. Zacks Investment Research lowered shares of Sirius XM from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Barrington Research reissued a “buy” rating and issued a $8.00 price target on shares of Sirius XM in a research report on Monday, September 24th. MKM Partners boosted their price target on shares of Sirius XM from $8.00 to $9.15 and gave the company a “neutral” rating in a research report on Thursday, September 27th. Pivotal Research reaffirmed a “hold” rating and set a $7.00 price objective on shares of Sirius XM in a research note on Wednesday, October 24th. Finally, ValuEngine cut shares of Sirius XM from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $6.85.

Sirius XM Company Profile

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music plus sports, entertainment, comedy, talk, news, traffic, and weather programs, including various music genres ranging from rock, pop and hip-hop to country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

Featured Story: Growth Stocks, What They Are, What They Are Not

Related posts

Leave a Comment