Sirius XM (NASDAQ:SIRI) Stock Rating Lowered by Guggenheim

Sirius XM (NASDAQ:SIRI) was downgraded by research analysts at Guggenheim from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently commented on SIRI. Pivotal Research reduced their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Barrington Research reissued an “outperform” rating and set a $40.00 target price on shares of Sirius XM in a research report on Monday. Bank of America reiterated an “underperform” rating and set a $23.00 price target on shares of Sirius XM in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their target price on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Sirius XM currently has an average rating of “Hold” and an average target price of $28.96.

Sirius XM Trading Down 0.9 %

SIRI stock traded down $0.24 during mid-day trading on Wednesday, reaching $25.88. The company’s stock had a trading volume of 1,668,989 shares, compared to its average volume of 3,501,116. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -4.12, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The business’s 50 day moving average price is $26.19 and its 200 day moving average price is $29.26. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93.

Insider Activity at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of Sirius XM stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of Sirius XM in the second quarter valued at about $12,858,000. Dimensional Fund Advisors LP raised its holdings in shares of Sirius XM by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after purchasing an additional 353,860 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Sirius XM by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock worth $10,807,000 after purchasing an additional 490,761 shares during the period. ProShare Advisors LLC boosted its stake in shares of Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after purchasing an additional 768,570 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in Sirius XM by 58.6% during the second quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock valued at $6,911,000 after buying an additional 902,079 shares during the period. Institutional investors own 10.69% of the company’s stock.

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.