Sirius XM (NASDAQ:SIRI) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a report published on Monday. The firm issued a hold rating on the stock.

Several other research analysts have also commented on SIRI. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Barrington Research restated an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a research note on Monday, July 15th. Finally, Citigroup increased their target price on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sirius XM presently has a consensus rating of “Hold” and a consensus price target of $30.62.

Sirius XM Stock Down 0.9 %

SIRI stock opened at $27.39 on Monday. 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 $10.55 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.73 and a beta of 1.07. The business has a fifty day simple moving average of $26.71 and a 200-day simple moving average of $29.43.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. As a group, analysts expect that Sirius XM will post 3.25 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 3.94%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, November 5th. Sirius XM’s dividend payout ratio (DPR) is 32.73%.

Insider Buying and Selling at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 2,646,761 shares of company stock worth $65,952,329 over the last quarter. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SIRI. Bislett Management LLC lifted its stake in Sirius XM by 125.0% in the third quarter. Bislett Management LLC now owns 900,000 shares of the company’s stock valued at $21,285,000 after buying an additional 500,000 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Sirius XM in the 3rd quarter valued at about $278,000. Cannon Global Investment Management LLC acquired a new position in Sirius XM during the 3rd quarter valued at about $1,939,000. Princeton Global Asset Management LLC grew its position in Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after purchasing an additional 1,315 shares during the last quarter. Finally, swisspartners Advisors Ltd bought a new position in Sirius XM in the 3rd quarter worth about $3,299,000. 10.69% of the stock is currently owned by 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.