Sirius XM (NASDAQ:SIRI) Rating Reiterated by Morgan Stanley

Sirius XM (NASDAQ:SIRI)‘s stock had its “underweight” rating reissued by equities researchers at Morgan Stanley in a report issued on Tuesday, Marketbeat reports. They presently have a $23.00 price objective on the stock. Morgan Stanley’s price target points to a potential downside of 4.64% from the company’s current price.

Several other equities research analysts have also commented on SIRI. Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Wednesday, September 18th. Citigroup lowered Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price objective on the stock. in a research report on Thursday, July 25th. Barrington Research restated an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. The Goldman Sachs Group lowered their price objective on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.75.

Sirius XM Stock Up 0.1 %

SIRI opened at $24.12 on Tuesday. Sirius XM has a 52-week low of $22.73 and a 52-week high of $57.80. The company has a market cap of $9.29 billion, a P/E ratio of 73.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.08. The firm’s 50-day moving average price is $30.78 and its 200-day moving average price is $31.64.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. On average, research analysts anticipate that Sirius XM will post 3.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction on 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 sale, the insider now 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 Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

A number of large investors have recently bought and sold shares of the business. Mather Group LLC. acquired a new stake in shares of Sirius XM in the 2nd quarter valued at approximately $28,000. First PREMIER Bank bought a new position in Sirius XM in the first quarter valued at about $31,000. Walker Asset Management LLC bought a new position in Sirius XM in the second quarter valued at about $33,000. Plato Investment Management Ltd bought a new stake in shares of Sirius XM during the second quarter worth about $35,000. Finally, Riverview Capital Advisers LLC acquired a new position in shares of Sirius XM in the second quarter worth approximately $35,000. 10.69% of the stock is 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.