StockNews.com Begins Coverage on Sirius XM (NASDAQ:SIRI)

StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Saturday morning. The brokerage issued a hold rating on the stock.

A number of other analysts have also recently commented on SIRI. Wells Fargo & Company dropped their price objective on Sirius XM from $3.00 to $2.50 and set an underweight rating for the company in a research report on Wednesday, May 1st. Rosenblatt Securities decreased their target price on shares of Sirius XM from $4.50 to $3.40 and set a neutral rating on the stock in a research report on Wednesday, May 1st. Evercore ISI raised Sirius XM from an underperform rating to an in-line rating and reduced their price target for the stock from $4.25 to $3.25 in a research note on Monday, June 24th. Citigroup downgraded shares of Sirius XM from a neutral rating to a sell rating and set a $2.80 target price for the company. in a report on Thursday, July 25th. Finally, Barrington Research restated an outperform rating and set a $4.75 price target on shares of Sirius XM in a research note on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $3.88.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.01 on Friday. The business’s fifty day moving average price is $3.12 and its two-hundred day moving average price is $3.68. The stock has a market cap of $11.58 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08. Sirius XM has a one year low of $2.45 and a one year high of $5.78.

Sirius XM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, August 9th. Sirius XM’s dividend payout ratio is presently 30.30%.

Insider Buying and Selling at Sirius XM

In other news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at $440,203.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently modified their holdings of the business. Berkshire Hathaway Inc grew its stake in Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Sirius XM by 516.5% during the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after buying an additional 1,341,352 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Sirius XM by 58.6% in the second quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock worth $6,911,000 after buying an additional 902,079 shares during the last quarter. ProShare Advisors LLC raised its holdings in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after acquiring an additional 768,570 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in Sirius XM during the 1st quarter valued at $2,036,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

Sirius XM Company Profile

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.