🔴 SIRI is trading 5.32% down amid dividend announcement and likely profit-taking

SIRI is trading at $26.51 (-5.32%) as the stock gives back some recent gains and the company announced its regular quarterly dividend.

• The decline follows a strong rally earlier in the week after the company announced an exclusive audio advertising deal with YouTube. The current movement is likely attributable to profit-taking.
• On Friday, the company declared a quarterly dividend of $0.27 per share, consistent with its previous payout.
• The move comes despite a recent price target increase from Guggenheim to $34, which cited the potential of the new YouTube partnership.