Sirius XM (NASDAQ:SIRI) Price Target Raised to $28.00 at Rosenblatt Securities

Sirius XM (NASDAQ:SIRI) had its price objective hoisted by equities research analysts at Rosenblatt Securities from $3.40 to $28.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 20.22% from the company’s previous close.

SIRI has been the topic of several other reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sirius XM from $3.75 to $3.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. StockNews.com started coverage on Sirius XM in a research report on Monday, August 19th. They issued a “hold” rating on the stock. Guggenheim reduced their target price on Sirius XM from $3.30 to $2.90 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Barrington Research reaffirmed an “outperform” rating and issued a $4.75 price target on shares of Sirius XM in a research note on Monday, July 15th. Finally, Citigroup lowered shares of Sirius XM from a “neutral” rating to a “sell” rating and set a $2.80 price objective on the stock. in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $6.03.

Sirius XM Price Performance

Shares of NASDAQ:SIRI traded down $1.22 during midday trading on Monday, reaching $23.29. The company’s stock had a trading volume of 4,322,930 shares, compared to its average volume of 2,727,377. The business’s fifty day simple moving average is $5.15 and its 200-day simple moving average is $3.92. The company has a market capitalization of $89.59 billion, a P/E ratio of 70.58, a P/E/G ratio of 0.90 and a beta of 1.08. Sirius XM has a fifty-two week low of $23.08 and a fifty-two week high of $57.80.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, analysts forecast that Sirius XM will post 3.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 1,447,238 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $3.16, for a total value of $4,573,272.08. Following the completion of the transaction, the insider now directly owns 989,331 shares of the company’s stock, valued at $3,126,285.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors have recently bought and sold shares of SIRI. Natixis Advisors L.P. acquired a new position in shares of Sirius XM during the 4th quarter worth approximately $271,000. Private Advisor Group LLC raised its position in shares of Sirius XM by 10.3% in the fourth quarter. Private Advisor Group LLC now owns 91,433 shares of the company’s stock valued at $500,000 after purchasing an additional 8,530 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Sirius XM by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock worth $27,120,000 after buying an additional 218,211 shares during the last quarter. Jump Financial LLC lifted its position in Sirius XM by 25.2% during the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock worth $232,000 after acquiring an additional 8,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Sirius XM by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,782,618 shares of the company’s stock worth $20,693,000 after buying an additional 143,185 shares in the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.