Sirius XM (NASDAQ:SIRI) Now Covered by StockNews.com

StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Monday morning. The brokerage issued a hold rating on the stock.

SIRI has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their price target 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. Bank of America restated an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. Morgan Stanley reaffirmed an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Barrington Research reissued an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. began coverage on shares of Sirius XM in a research report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 target price on the stock. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.62.

Sirius XM Stock Performance

Shares of NASDAQ SIRI opened at $26.66 on Monday. The business’s 50-day simple moving average is $26.61 and its 200-day simple moving average is $29.41. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 8.08, a P/E/G ratio of 0.73 and a beta of 1.07.

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

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. Sirius XM’s dividend payout ratio is 32.73%.

Insider Activity at Sirius XM

In related 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 transaction of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s 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 owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the acquisition, the insider now owns 108,719,088 shares in the company, 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. Insiders acquired 2,646,761 shares of company stock valued at $65,952,329 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coston McIsaac & Partners lifted its stake in 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 buying an additional 624 shares during the period. Princeton Global Asset Management LLC increased its stake in shares of Sirius XM by 2,683.7% in the 3rd 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. Trium Capital LLP acquired a new stake in shares of Sirius XM in the 3rd quarter valued at approximately $50,000. Nisa Investment Advisors LLC bought a new position in Sirius XM during the 3rd quarter worth approximately $51,000. Finally, Blue Trust Inc. grew its holdings in Sirius XM by 113.6% during the third quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after purchasing an additional 1,938 shares during the period. 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.