Sirius XM (NASDAQ:SIRI) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report report published on Sunday. The brokerage issued a hold rating on the stock.

A number of other brokerages have also issued reports on SIRI. Benchmark reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and dropped their target price for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Citigroup upped their target price on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Barrington Research restated an “outperform” rating and set a $47.50 price target on shares of Sirius XM in a research report on Monday, July 15th. Finally, Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, September 18th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $31.25.

Sirius XM Trading Down 1.5 %

Shares of SIRI stock opened at $26.81 on Friday. The company’s fifty day simple moving average is $27.12 and its 200-day simple moving average is $29.65. The company has a market cap of $103.13 billion, a PE ratio of 81.24, a P/E/G ratio of 0.73 and a beta of 1.07. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. Equities research analysts expect that Sirius XM will post 3.25 EPS for the current fiscal year.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a yield of 4.03%. Sirius XM’s dividend payout ratio is currently 321.21%.

Insider Activity

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the purchase, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was purchased at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the purchase, the insider now owns 108,719,088 shares of the company’s stock, 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. Over the last 90 days, insiders purchased 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Coston McIsaac & Partners grew its holdings in Sirius XM by 113.5% during the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after buying an additional 624 shares in the last quarter. Bfsg LLC grew its stake in Sirius XM by 35.3% during the third quarter. Bfsg LLC now owns 4,735 shares of the company’s stock valued at $112,000 after acquiring an additional 1,235 shares in the last quarter. Blue Trust Inc. increased its holdings in Sirius XM by 113.6% in the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after acquiring an additional 1,938 shares during the last quarter. Trium Capital LLP bought a new position in shares of Sirius XM during the 3rd quarter valued at about $50,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Sirius XM by 137.6% during the 3rd quarter. International Assets Investment Management LLC now owns 5,865 shares of the company’s stock valued at $139,000 after purchasing an additional 3,397 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

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.