The Short Interest in Sirius XM Holdings Inc. (SIRI) Decreases By 3.7%

The Short Interest in Sirius XM Holdings Inc. (SIRI) Decreases By 3.7%

Sirius XM Holdings Inc. (NASDAQ:SIRI) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 220,922,513 shares, a decline of 3.7% from the September 15th total of 229,413,860 shares. Based on an average daily trading volume, of 44,733,332 shares, the days-to-cover ratio is currently 4.9 days. Approximately 13.0% of the shares of the company are short sold.

Several analysts have issued reports on the company. TheStreet upgraded Sirius XM Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, July 26th. FBR & Co restated an “outperform” rating and issued a $5.00 target price (up from $4.25) on shares of Sirius XM Holdings in a research note on Thursday, July 28th. Barclays PLC restated a “buy” rating and issued a $4.60 target price on shares of Sirius XM Holdings in a research note on Thursday, July 28th. RBC Capital Markets restated a “sector perform” rating and issued a $4.75 target price (up from $4.25) on shares of Sirius XM Holdings in a research note on Wednesday, July 27th. Finally, Zacks Investment Research cut Sirius XM Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Sirius XM Holdings currently has a consensus rating of “Buy” and an average target price of $4.84.

Sirius XM Holdings (NASDAQ:SIRI) opened at 4.10 on Friday. The company’s 50 day moving average is $4.15 and its 200 day moving average is $4.05. Sirius XM Holdings has a 52-week low of $3.29 and a 52-week high of $4.44. The firm has a market cap of $20.00 billion, a P/E ratio of 34.17 and a beta of 1.33.

Sirius XM Holdings (NASDAQ:SIRI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Sirius XM Holdings had a negative return on equity of 179.05% and a net margin of 13.44%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $0.03 earnings per share. Sirius XM Holdings’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Sirius XM Holdings will post $0.14 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Sirius XM Holdings by 61.7% in the second quarter. JPMorgan Chase & Co. now owns 21,962,783 shares of the company’s stock valued at $86,753,000 after buying an additional 8,381,053 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Sirius XM Holdings by 36.7% in the second quarter. Janus Capital Management LLC now owns 11,715,900 shares of the company’s stock valued at $46,278,000 after buying an additional 3,142,800 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Sirius XM Holdings by 1,303.7% in the third quarter. BNP Paribas Arbitrage SA now owns 2,329,480 shares of the company’s stock valued at $9,714,000 after buying an additional 2,163,531 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Sirius XM Holdings by 5,583.0% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 2,147,392 shares of the company’s stock valued at $8,955,000 after buying an additional 2,109,606 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Sirius XM Holdings during the second quarter valued at about $7,911,000. Hedge funds and other institutional investors own 20.82% of the company’s stock.

About Sirius XM Holdings

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