Sirius XM (NASDAQ:SIRI) Price Target Cut to $29.00 by Analysts at Guggenheim

Sirius XM (NASDAQ:SIRI) had its price target reduced by stock analysts at Guggenheim from $30.00 to $29.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 31.14% from the company’s current price.

SIRI has been the topic of several other research reports. Benchmark reiterated a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped their price target on Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Pivotal Research decreased their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Barrington Research dropped their price objective on shares of Sirius XM from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, December 13th. Finally, Wells Fargo & Company reduced their target price on shares of Sirius XM from $22.00 to $16.00 and set an “underweight” rating for the company in a research note on Thursday, December 19th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.35.

Sirius XM Stock Performance

SIRI stock traded up $0.05 during mid-day trading on Wednesday, hitting $22.11. The company had a trading volume of 1,193,008 shares, compared to its average volume of 4,530,574. Sirius XM has a 12 month low of $20.47 and a 12 month high of $53.50. The stock’s fifty day moving average price is $23.78 and its two-hundred day moving average price is $27.01. The firm has a market cap of $7.50 billion, a PE ratio of -3.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently added to or reduced their stakes in the business. Union Bancaire Privee UBP SA bought a new position in shares of Sirius XM in the fourth quarter worth approximately $26,000. Coston McIsaac & Partners lifted its holdings 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 acquiring an additional 624 shares during the last quarter. TCTC Holdings LLC purchased a new position in Sirius XM in the third quarter worth $29,000. Geneos Wealth Management Inc. increased its stake in Sirius XM by 574.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after acquiring an additional 1,144 shares during the last quarter. Finally, Princeton Global Asset Management LLC raised its position in Sirius XM by 2,683.7% during the third quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. 10.69% of the stock is currently 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.