Deutsche Bank Aktiengesellschaft Lowers Sirius XM (NASDAQ:SIRI) Price Target to $3.00

Sirius XM (NASDAQ:SIRI) had its target price decreased by Deutsche Bank Aktiengesellschaft from $3.75 to $3.00 in a report published on Tuesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

A number of other analysts also recently commented on the stock. Pivotal Research upgraded shares of Sirius XM from a hold rating to a buy rating and cut their price objective for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. StockNews.com started coverage on shares of Sirius XM in a report on Saturday, August 3rd. They issued a hold rating for the company. Barrington Research reiterated an outperform rating and issued a $4.75 price objective on shares of Sirius XM in a report on Monday, July 15th. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and cut their price objective for the company from $4.25 to $3.25 in a report on Monday, June 24th. Finally, Citigroup downgraded shares of Sirius XM from a neutral rating to a sell rating and set a $2.80 price objective for the company. in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sirius XM has a consensus rating of Hold and a consensus price target of $3.80.

Sirius XM Price Performance

Sirius XM stock traded up $0.01 during midday trading on Tuesday, reaching $3.14. The company had a trading volume of 11,964,708 shares, compared to its average volume of 25,852,295. The company has a market capitalization of $12.08 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.06 and a beta of 1.08. Sirius XM has a 12-month low of $2.45 and a 12-month high of $5.78. The firm’s fifty day simple moving average is $3.15 and its 200-day simple moving average is $3.62.

Sirius XM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a $0.0266 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.11 annualized dividend and a yield of 3.39%. Sirius XM’s dividend payout ratio (DPR) is presently 30.30%.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 1,447,238 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $3.16, for a total value of $4,573,272.08. Following the completion of the transaction, the insider now owns 989,331 shares of the company’s stock, valued at approximately $3,126,285.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Sirius XM news, insider Scott Andrew Greenstein sold 1,447,238 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $3.16, for a total value of $4,573,272.08. Following the completion of the transaction, the insider now owns 989,331 shares of the company’s stock, valued at approximately $3,126,285.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the transaction, the director now directly owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,472,274 shares of company stock worth $4,638,616. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Sirius XM by 1.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock worth $3,120,000 after purchasing an additional 9,956 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Sirius XM during the 1st quarter worth $2,036,000. Morningstar Investment Services LLC purchased a new stake in shares of Sirius XM during the 4th quarter worth $85,000. Assetmark Inc. raised its stake in Sirius XM by 1,320.9% during the 4th quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock worth $214,000 after acquiring an additional 36,326 shares in the last quarter. Finally, Jump Financial LLC raised its stake in Sirius XM by 25.2% during the 4th quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock worth $232,000 after acquiring an additional 8,541 shares in the last quarter. 10.69% of the stock is owned by hedge funds and other 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.