New York, NY -- (ReleaseWire) -- 11/07/2012 --Sirius XM Radio Inc. (NASDAQ:SIRI) traded in the range of $2.67 and $2.80 during its latest trading session. The stock had opened at $2.79 and closed at $2.74, down 2.50 percent from its previous close of $2.81. Sirius XM Radio recorded the volume of 103.895 million shares and Its average daily trading volume stands at 77.719 million shares. The company stock has traded in the range of $1.61 and $2.97 during its past 52 weeks and has gained 1.86 percent in the last month. Sirius XM Radio Inc is expected to post strong results for its fourth quarter. It is also likely that the company would do better than the third quarter.
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Sirius XM Radio’s main peer Saga Communications (NYSE:SGA) closed its latest trading session at $42.52, down 5.07 percent from its previous close of $44.79. The stock opened the session at $44.25 and touched its highest price point at $44.35. Saga Communications stock’s lowest price point for the session stood at $42.52. Its latest trading volume has been recorded at 9.26k shares, in contrast to the average daily trading volume of 6.87k shares. The company’s market capitalization stands at $180.71 million. However, it lost 2.81 percent in last one month.
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Thus Sirius XM Radio performed better than its peers. The company is also looking for replacement for its CEO Mel Karmazin. Liberty Media CEO Greg Maffei also stated that the search is likely to run into next year. Karmazin is scheduled to leave the company on February 1 next year. According to Maffei, both internal and external candidates are being vetted for the position. Liberty Media is consistently raising its stake in the company and its current stake stands at 49.7 percent. It is expected that Liberty Media is looking to control the management of Sirius XM Radio.
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