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Sirius XM shares fall for second straight day Tuesday as NASDAQ rises

Published Dec 06, 2023 14:46
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NEW YORK - Sirius XM Holdings (NASDAQ:SIRI) Inc. experienced a second consecutive day of decline on Tuesday, with its shares falling 1.10% to close at $4.51. This downward movement came despite a rise in the NASDAQ Composite Index, which ended the day at 14,229.91. The Dow Jones Industrial Average, on the other hand, saw a decrease, closing at 36,124.56.

The trading volume for Sirius XM was notably higher than average, with 16 million shares changing hands compared to the usual 14 million. In contrast to Sirius XM's performance, Alphabet (NASDAQ:GOOGL) Inc.'s classes C and A shares saw an increase in value, while Meta Platforms Inc (NASDAQ:META).'s shares experienced a slight decline.

Sirius XM's current share price remains significantly lower than its July 20th peak of $7.95, sitting $3.44 below that high-water mark. The company's recent performance in the stock market has not mirrored the broader gains seen in major indices such as the NASDAQ.

InvestingPro Insights

Sirius XM Holdings Inc. (SIRI) has been navigating a challenging market, with its shares witnessing a recent decline. According to InvestingPro data, the company has a market cap of $17.31 billion and is trading at a P/E ratio of 13.66, reflecting investor sentiment towards its earnings potential. The adjusted P/E ratio for the last twelve months as of Q3 2023 stands slightly lower at 13.02.

InvestingPro Tips highlight a noteworthy aspect of the company's financial health: Sirius XM boasts high earnings quality, with free cash flow surpassing net income, which suggests a strong ability to generate cash profits. Additionally, the company has shown commitment to shareholder returns, having raised its dividend for 7 consecutive years.

These insights are particularly relevant for investors considering Sirius XM's stock, as they offer a glimpse into the company's financial stability and potential for long-term value creation. The InvestingPro platform provides a wealth of additional tips, totaling 8 for Sirius XM, that can further guide investment decisions.

For those interested in a deeper analysis, InvestingPro subscription is now available at an attractive price, thanks to a special Cyber Monday sale offering up to 60% off. To sweeten the deal, use coupon code sfy23 to get an extra 10% off a 2-year InvestingPro+ subscription. This comprehensive tool not only provides more InvestingPro Tips but also offers a detailed analysis that could be pivotal in making informed investment choices.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Sirius XM shares fall for second straight day Tuesday as NASDAQ rises
 

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