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Why Should We Buy Sirius XM Holdings Inc. (SIRI) Stock?

Sirius XM Holdings Inc. (NASDAQ:SIRI) has a beta value of 0.92 and has seen 12.93 million shares traded in the last trading session. The company, currently valued at $22.33B, closed the last trade at $5.79 per share which meant it lost -$0.09 on the day or -1.53% during that session. The SIRI stock price is -18.31% off its 52-week high price of $6.85 and 1.73% above the 52-week low of $5.69. If we look at the company’s 10-day average daily trading volume, we find that it stood at 10.89 million shares traded. The 3-month trading volume is 14.02 million shares.

The consensus among analysts is that Sirius XM Holdings Inc. (SIRI) is a Hold stock at the moment, with a recommendation rating of 2.80. 4 analysts rate the stock as a Sell, while 0 rate it as Overweight. 6 out of 16 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.08.

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Sirius XM Holdings Inc. (NASDAQ:SIRI) trade information

Sporting -1.53% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the SIRI stock price touched $5.79 or saw a rise of 3.34%. Year-to-date, Sirius XM Holdings Inc. shares have moved -0.86%, while the 5-day performance has seen it change -3.18%. Over the past 30 days, the shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have changed -1.86%. Short interest in the company has seen 188.32 million shares shorted with days to cover at 12.04.

Wall Street analysts have a consensus price target for the stock at $6.66, which means that the shares’ value could jump 13.06% from current levels. The projected low price target is $5.00 while the price target rests at a high of $8.00. In that case, then, we find that the current price level is -38.17% off the targeted high while a plunge would see the stock lose 13.64% from current levels.

Sirius XM Holdings Inc. (SIRI) estimates and forecasts

Figures show that Sirius XM Holdings Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -9.25% over the past 6 months, with this year growth rate of -14.71%, compared to -1.50% for the industry. Revenue growth from the last financial year stood is estimated to be 4.00%.

12 analysts offering their estimates for the company have set an average revenue estimate of $2.27 billion for the current quarter. 12 have an estimated revenue figure of $2.34 billion for the next quarter concluding in Dec 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 16.30% over the past 5 years. Earnings growth for 2023 is a modest 916.90% while over the next 5 years, the company’s earnings are expected to increase by 3.54%.

SIRI Dividends

Sirius XM Holdings Inc. is expected to release its next earnings report between January 30 and February 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.10 at a share yield of 1.68%. The company’s dividend yield has gone up over the past 12 months.

Sirius XM Holdings Inc. (NASDAQ:SIRI)’s Major holders

Insiders own 82.97% of the company shares, while shares held by institutions stand at 11.30% with a share float percentage of 66.37%. Investors are also buoyed by the number of investors in a company, with Sirius XM Holdings Inc. having a total of 847 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 70.83 million shares worth more than $434.2 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 1.82% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 62.21 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $381.37 million and represent 1.60% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Invesco ETF Tr-Invesco QQQ Tr, Series 1 ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2022, the former fund manager holds about 1.47% shares in the company for having 57.18 million shares of worth $326.51 million while later fund manager owns 23.21 million shares of worth $142.29 million as of Jun 29, 2022, which makes it owner of about 0.60% of company’s outstanding stock.

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