Sirius XM (NASDAQ:SIRI) Rating Reiterated by Benchmark

Sirius XM (NASDAQ:SIRI)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a report issued on Tuesday, Benzinga reports. They currently have a $43.00 price objective on the stock. Benchmark’s target price points to a potential upside of 56.76% from the company’s current price.

A number of other research firms also recently weighed in on SIRI. StockNews.com began coverage on shares of Sirius XM in a research report on Saturday. They set a “hold” rating for the company. Evercore ISI raised 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. The Goldman Sachs Group dropped their target price on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Rosenblatt Securities increased their price target on Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Citigroup boosted their price objective on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.25.

Sirius XM Stock Up 2.0 %

Shares of SIRI stock traded up $0.53 during trading hours on Tuesday, hitting $27.43. 1,898,618 shares of the company’s stock traded hands, compared to its average volume of 3,212,140. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The stock has a market cap of $105.51 billion, a PE ratio of 83.12, a price-to-earnings-growth ratio of 0.73 and a beta of 1.07. The stock’s 50 day simple moving average is $27.59 and its 200 day simple moving average is $30.07.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm 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%. As a group, equities research analysts expect that Sirius XM will post 3.25 EPS for the current fiscal year.

Insider Activity at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were acquired at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, the insider now directly owns 108,719,088 shares of the company’s stock, valued at approximately $2,712,541,245.60. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

A number of hedge funds have recently added to or reduced their stakes in SIRI. Trium Capital LLP bought a new position in shares of Sirius XM in the 3rd quarter worth approximately $50,000. V Square Quantitative Management LLC boosted its stake in shares of Sirius XM by 66.6% during the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after acquiring an additional 3,194 shares during the last quarter. First PREMIER Bank bought a new stake in shares of Sirius XM during the 1st quarter valued at $31,000. Keynote Financial Services LLC purchased a new stake in shares of Sirius XM in the 1st quarter worth $39,000. Finally, Mather Group LLC. purchased a new stake in shares of Sirius XM in the 2nd quarter worth $28,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

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.