Sirius XM (SIRI) Debt Trading 1.3% Higher

An issue of Sirius XM Holdings Inc. (NASDAQ:SIRI) bonds rose 1.3% against their face value during trading on Tuesday. The high-yield debt issue has a 5.375% coupon and will mature on July 15, 2026. The debt is now trading at $102.03 and was trading at $100.20 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.

Several research firms have recently issued reports on SIRI. B. Riley restated a “buy” rating on shares of Sirius XM in a report on Wednesday, November 1st. BidaskClub upgraded shares of Sirius XM from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Zacks Investment Research downgraded shares of Sirius XM from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Goldman Sachs Group boosted their price objective on shares of Sirius XM from $5.00 to $5.50 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Morgan Stanley boosted their price objective on shares of Sirius XM from $5.35 to $5.50 and gave the stock an “underweight” rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Sirius XM has an average rating of “Buy” and an average target price of $6.12.

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) opened at $6.13 on Thursday. The firm has a market cap of $27,445.29, a PE ratio of 32.16, a P/E/G ratio of 1.71 and a beta of 1.17. Sirius XM Holdings Inc. has a 52 week low of $4.73 and a 52 week high of $6.28. The company has a debt-to-equity ratio of -4.42, a current ratio of 0.17 and a quick ratio of 0.16.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 7th will be paid a $0.011 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $0.04 dividend on an annualized basis and a yield of 0.72%. Sirius XM’s payout ratio is currently 30.77%.

Sirius XM announced that its board has authorized a share buyback plan on Tuesday, January 23rd that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

In related news, EVP Patrick L. Donnelly sold 1,374,479 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were 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 owns 227,430 shares of the company’s stock, valued at $1,296,351. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas D. Barry sold 175,777 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $6.11, for a total transaction of $1,073,997.47. Following the completion of the transaction, the vice president now owns 551,815 shares in the company, valued at $3,371,589.65. The disclosure for this sale can be found here. In the last three months, insiders sold 2,586,530 shares of company stock worth $15,157,263. 1.06% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its position in Sirius XM by 476.2% in the second quarter. Macquarie Group Ltd. now owns 18,392 shares of the company’s stock valued at $101,000 after buying an additional 15,200 shares in the last quarter. Valmark Advisers Inc. boosted its position in Sirius XM by 102.3% in the fourth quarter. Valmark Advisers Inc. now owns 20,230 shares of the company’s stock valued at $108,000 after buying an additional 10,230 shares in the last quarter. Toronto Dominion Bank boosted its position in Sirius XM by 9.7% in the second quarter. Toronto Dominion Bank now owns 20,278 shares of the company’s stock valued at $111,000 after buying an additional 1,799 shares in the last quarter. Kalos Management Inc. acquired a new position in Sirius XM in the third quarter valued at about $114,000. Finally, Cornerstone Financial Partners LLC acquired a new position in Sirius XM in the fourth quarter valued at about $113,000. Hedge funds and other institutional investors own 20.35% of the company’s stock.

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Sirius XM 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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