Sirius XM (NASDAQ:SIRI) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report sent to investors on Wednesday. The firm issued a hold rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Guggenheim dropped their target price on shares of Sirius XM from $33.00 to $29.00 and set a neutral rating for the company in a report on Thursday, June 27th. Rosenblatt Securities lifted their price objective on Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a report on Monday, September 16th. The Goldman Sachs Group lowered their target price on Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a report on Tuesday. Citigroup cut Sirius XM from a neutral rating to a sell rating and set a $28.00 price target for the company. in a research report on Thursday, July 25th. Finally, Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and decreased their price objective for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $36.91.

Sirius XM Price Performance

Sirius XM stock opened at $24.95 on Wednesday. The stock’s 50 day moving average price is $31.34 and its 200 day moving average price is $32.01. Sirius XM has a 1-year low of $22.73 and a 1-year high of $57.80. The company has a market cap of $95.97 billion, a PE ratio of 75.61, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, equities research analysts anticipate that Sirius XM will post 3.14 EPS for the current fiscal year.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a $0.266 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.26%. 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 currently 321.21%.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Berkshire Hathaway Inc lifted its holdings in shares of Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after acquiring an additional 30,559,834 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM in the 2nd quarter valued at $12,858,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Sirius XM during the 2nd quarter valued at $5,192,000. SG Americas Securities LLC increased its holdings in shares of Sirius XM by 516.5% during the 1st quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after buying an additional 1,341,352 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Sirius XM in the 2nd quarter worth $3,616,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.