Sirius XM (NASDAQ:SIRI) Earns Underweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Wednesday morning, Marketbeat reports. The brokerage issued an underweight rating and a $20.00 target price on the stock.

A number of other research analysts also recently weighed in on SIRI. Citigroup increased their price target on Sirius XM from $2.80 to $21.00 and gave the company a sell rating in a research note on Thursday, September 26th. Benchmark cut their price target on Sirius XM from $65.00 to $43.00 and set a buy rating on the stock in a research note on Tuesday. Morgan Stanley reissued an underweight rating and issued a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. The Goldman Sachs Group lowered their price objective on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a research report on Tuesday, September 17th. Finally, Rosenblatt Securities upped their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $31.25.

Sirius XM Stock Performance

NASDAQ:SIRI opened at $24.93 on Wednesday. The stock’s fifty day moving average price is $27.78 and its two-hundred day moving average price is $30.37. 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 $9.60 billion, a price-to-earnings ratio of 7.55, a P/E/G ratio of 0.73 and a beta of 1.07.

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

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.266 dividend. This is an increase from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 annualized dividend and a dividend yield of 4.27%. Sirius XM’s dividend payout ratio (DPR) is currently 32.12%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated 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 sale, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated 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 sale, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the transaction, the insider now owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Trium Capital LLP acquired a new stake in shares of Sirius XM in the third quarter valued at about $50,000. V Square Quantitative Management LLC increased its position in shares of Sirius XM by 66.6% in the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after acquiring an additional 3,194 shares during the last quarter. First PREMIER Bank acquired a new position in Sirius XM during the first quarter worth approximately $31,000. Keynote Financial Services LLC acquired a new position in Sirius XM during the first quarter worth approximately $39,000. Finally, Mather Group LLC. acquired a new position in Sirius XM during the second quarter worth approximately $28,000. 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.