Sirius XM Holdings Inc. (NASDAQ:SIRI) Receives $28.96 Consensus Target Price from Analysts

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been given a consensus rating of “Reduce” by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $28.96.

SIRI has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a report on Thursday, September 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Sirius XM in a research note on Monday, November 4th. Pivotal Research reduced their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $43.00 target price on shares of Sirius XM in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group reduced their price target on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th.

Sirius XM Price Performance

SIRI opened at $25.80 on Friday. The company has a fifty day moving average price of $25.64 and a two-hundred day moving average price of $29.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $8.75 billion, a PE ratio of -4.19 and a beta of 1.04. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.19%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s payout ratio is -17.03%.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were acquired at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the transaction, the insider now directly owns 108,719,088 shares in the company, valued at $2,712,541,245.60. This trade represents a 1.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders bought 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the 2nd quarter worth about $12,858,000. Sessa Capital IM L.P. acquired a new position in Sirius XM during the third quarter valued at approximately $77,983,000. Thompson Siegel & Walmsley LLC bought a new position in Sirius XM in the third quarter valued at approximately $67,598,000. Seizert Capital Partners LLC acquired a new position in shares of Sirius XM during the 3rd quarter worth approximately $46,173,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Sirius XM during the 2nd quarter worth approximately $5,192,000. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.