Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) PT at $28.96

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have earned a consensus rating of “Reduce” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $28.96.

A number of research analysts recently weighed in on SIRI shares. Barrington Research reissued an “outperform” rating and issued a $40.00 price objective on shares of Sirius XM in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $43.00 target price on shares of Sirius XM in a research note on Tuesday, October 15th. Citigroup lifted their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Finally, StockNews.com initiated coverage on shares of Sirius XM in a report on Wednesday. They issued a “sell” rating on the stock.

Sirius XM Trading Down 4.6 %

Sirius XM stock opened at $25.80 on Friday. Sirius XM has a one year low of $22.18 and a one year high of $57.80. The company’s fifty day moving average price is $25.64 and its two-hundred day moving average price is $29.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -4.19 and a beta of 1.04.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. 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. This represents a $1.08 annualized dividend and a dividend yield of 4.19%. Sirius XM’s dividend payout ratio (DPR) is presently -17.03%.

Insider Transactions at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of Sirius XM stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the transaction, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have acquired 2,646,761 shares of company stock valued at $65,952,329 in the last three months. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently modified their holdings of the stock. Coston McIsaac & Partners increased its holdings in shares of Sirius XM by 113.5% in the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Sirius XM in the 2nd quarter valued at $28,000. TCTC Holdings LLC acquired a new position in shares of Sirius XM during the third quarter valued at $29,000. Princeton Global Asset Management LLC boosted its holdings in Sirius XM by 2,683.7% in the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after acquiring an additional 1,315 shares during the last quarter. Finally, Walker Asset Management LLC acquired a new stake in Sirius XM in the second quarter worth about $33,000. 10.69% of the stock is owned by institutional investors.

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.