Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Saturday morning. The brokerage issued a hold rating on the stock.

A number of other analysts have also recently commented on the stock. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and lowered their target price for the stock from $42.50 to $32.50 in a research note on Monday, June 24th. Citigroup lifted their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a sell rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. assumed coverage on shares of Sirius XM in a research note on Wednesday. They set an underweight rating and a $20.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sirius XM from $37.50 to $30.00 and set a hold rating for the company in a report on Tuesday, August 6th. Finally, Guggenheim raised shares of Sirius XM from a neutral rating to a buy rating and set a $30.00 target price for the company in a report on Wednesday, September 18th. Four analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Sirius XM presently has a consensus rating of Hold and an average target price of $31.25.

Sirius XM Stock Up 2.6 %

Shares of Sirius XM stock opened at $24.93 on Friday. The firm’s 50 day moving average price is $27.66 and its 200-day moving average price is $30.22. 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 P/E ratio of 7.55, a PEG ratio of 0.73 and a beta of 1.07.

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

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.266 dividend. This represents a $1.06 annualized dividend and a yield of 4.27%. The ex-dividend date was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s payout ratio is presently 32.12%.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the acquisition, the insider now directly owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price 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 $2,496,884,722.95. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Trium Capital LLP acquired a new stake in shares of Sirius XM during the third quarter worth about $50,000. V Square Quantitative Management LLC lifted its position in shares of Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after purchasing an additional 3,194 shares in the last quarter. Bard Financial Services Inc. lifted its position in shares of Sirius XM by 41.3% during the second quarter. Bard Financial Services Inc. now owns 17,100 shares of the company’s stock worth $48,000 after purchasing an additional 5,000 shares in the last quarter. Pitcairn Co. lifted its position in shares of Sirius XM by 33.7% during the first quarter. Pitcairn Co. now owns 19,994 shares of the company’s stock worth $78,000 after purchasing an additional 5,043 shares in the last quarter. Finally, Cambridge Advisors Inc. increased its stake in shares of Sirius XM by 18.0% during the second quarter. Cambridge Advisors Inc. now owns 34,800 shares of the company’s stock worth $98,000 after buying an additional 5,316 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.