Sirius XM (NASDAQ:SIRI) Downgraded by Guggenheim to Hold

Guggenheim lowered shares of Sirius XM (NASDAQ:SIRI) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on SIRI. Barrington Research reiterated an “outperform” rating and set a $40.00 price target on shares of Sirius XM in a report on Monday. Citigroup lifted their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a report on Thursday, September 26th. Morgan Stanley restated an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sirius XM has an average rating of “Hold” and a consensus target price of $28.96.

Sirius XM Stock Performance

NASDAQ SIRI traded down $0.24 during trading on Wednesday, reaching $25.88. 1,668,989 shares of the company’s stock were exchanged, compared to its average volume of 3,501,116. The business has a 50 day moving average price of $26.19 and a 200-day moving average price of $29.26. Sirius XM has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The stock has a market capitalization of $8.78 billion, a P/E ratio of -4.12, a PEG ratio of 1.32 and a beta of 1.04. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio (DPR) is currently -16.72%.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 2,646,761 shares of company stock worth $65,952,329 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several large investors have recently bought and sold shares of the stock. Coston McIsaac & Partners increased its stake in shares of Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares in the last quarter. TCTC Holdings LLC acquired a new position in Sirius XM during the third quarter valued at approximately $29,000. Princeton Global Asset Management LLC boosted its position in Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after purchasing an additional 1,315 shares during the period. Trium Capital LLP acquired a new stake in shares of Sirius XM in the third quarter valued at about $50,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Sirius XM in the third quarter valued at $51,000. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.