JPMorgan Chase & Co. Increases Sirius XM (NASDAQ:SIRI) Price Target to $21.00

Sirius XM (NASDAQ:SIRI) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 19.63% from the company’s current price.

SIRI has been the topic of several other research reports. Bank of America reaffirmed an “underperform” rating and issued a $23.00 price target on shares of Sirius XM in a report on Thursday, October 24th. Pivotal Research decreased their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com began coverage on Sirius XM in a report on Tuesday. They set a “hold” rating on the stock. The Goldman Sachs Group decreased their target price on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Morgan Stanley restated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.96.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $26.13 on Thursday. The firm has a 50-day moving average of $25.93 and a two-hundred day moving average of $29.21. The company has a market capitalization of $8.86 billion, a price-to-earnings ratio of -4.12, a PEG ratio of 1.32 and a beta of 1.04. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the acquisition, the insider now owns 110,276,790 shares in the company, valued at approximately $3,024,892,349.70. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders acquired 2,646,761 shares of company stock worth $65,952,329. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the 2nd quarter worth about $12,858,000. Dimensional Fund Advisors LP raised its stake in Sirius XM by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after acquiring an additional 353,860 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Sirius XM by 14.5% in the second quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after acquiring an additional 490,761 shares during the last quarter. ProShare Advisors LLC lifted its position in Sirius XM by 25.8% during the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after buying an additional 768,570 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Sirius XM by 58.6% in the 2nd quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock worth $6,911,000 after purchasing an additional 902,079 shares during the last quarter. 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.