Sirius XM (NASDAQ:SIRI) Given New $26.00 Price Target at The Goldman Sachs Group

Sirius XM (NASDAQ:SIRI) had its target price decreased by equities researchers at The Goldman Sachs Group from $32.50 to $26.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 9.01% from the stock’s previous close.

Several other brokerages also recently commented on SIRI. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and decreased their target price for the stock from $42.50 to $32.50 in a research note on Monday, June 24th. Barrington Research reaffirmed an “outperform” rating and issued a $47.50 target price on shares of Sirius XM in a research report on Monday, July 15th. Guggenheim dropped their price target on shares of Sirius XM from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Citigroup cut shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price target on the stock. in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average price target of $36.82.

Sirius XM Trading Up 0.9 %

Shares of SIRI traded up $0.21 during mid-day trading on Tuesday, reaching $23.85. The company’s stock had a trading volume of 342,488 shares, compared to its average volume of 2,750,491. The stock has a market cap of $91.74 billion, a PE ratio of 72.12, a P/E/G ratio of 0.90 and a beta of 1.08. Sirius XM has a 52 week low of $22.73 and a 52 week high of $57.80. The company’s fifty day moving average price is $32.28 and its two-hundred day moving average price is $32.38.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. Research analysts anticipate that Sirius XM will post 3.14 EPS for the current year.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC lifted its position in Sirius XM by 10.3% in the fourth quarter. Private Advisor Group LLC now owns 91,433 shares of the company’s stock worth $500,000 after buying an additional 8,530 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Sirius XM by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after acquiring an additional 218,211 shares during the last quarter. Jump Financial LLC boosted its position in Sirius XM by 25.2% in the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Sirius XM by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock valued at $20,693,000 after buying an additional 143,185 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in Sirius XM by 105.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 24,944 shares of the company’s stock valued at $136,000 after acquiring an additional 12,791 shares during the period. 10.69% of the stock is currently owned by institutional investors.

About Sirius XM

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.