Sirius XM (NASDAQ:SIRI) Price Target Raised to $21.00

Sirius XM (NASDAQ:SIRI) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 19.63% from the company’s current price.

SIRI has been the subject of several other reports. Rosenblatt Securities reissued a “neutral” rating and set a $28.00 price target on shares of Sirius XM in a research report on Monday, November 4th. Benchmark reiterated a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Pivotal Research dropped their price target 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. StockNews.com initiated coverage on Sirius XM in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM presently has a consensus rating of “Hold” and an average target price of $28.96.

Sirius XM Stock Up 0.0 %

NASDAQ:SIRI opened at $26.13 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80. The company has a market cap of $8.86 billion, a PE ratio of -4.12, a PEG ratio of 1.32 and a beta of 1.04. The stock has a 50-day simple moving average of $25.93 and a 200 day simple moving average of $29.21.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the transaction, the insider now directly owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 2,646,761 shares of company stock valued at $65,952,329 over the last ninety days. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

Several hedge funds have recently bought and sold shares of SIRI. Point72 Asset Management L.P. purchased a new position in shares of Sirius XM during the second quarter valued at approximately $12,858,000. Dimensional Fund Advisors LP raised its position in Sirius XM by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after acquiring an additional 353,860 shares during the period. AQR Capital Management LLC lifted its stake in Sirius XM by 14.5% in the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after purchasing an additional 490,761 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Sirius XM by 25.8% during the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after acquiring an additional 768,570 shares during the period. Finally, AustralianSuper Pty Ltd raised its position 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 valued at $6,911,000 after purchasing an additional 902,079 shares during the period. Institutional investors and hedge funds 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.