Sirius XM (NASDAQ:SIRI) Stock Rating Lowered by Guggenheim

Sirius XM (NASDAQ:SIRI) was downgraded by Guggenheim from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts have also issued reports about the stock. StockNews.com assumed coverage on shares of Sirius XM in a research note on Tuesday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities reiterated a “neutral” rating and issued a $28.00 target price on shares of Sirius XM in a report on Monday. Finally, Bank of America reiterated an “underperform” rating and issued a $23.00 target price on shares of Sirius XM in a report on Thursday, October 24th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.96.

Sirius XM Stock Down 0.3 %

Shares of NASDAQ SIRI opened at $26.12 on Wednesday. The firm has a market cap of $8.86 billion, a PE ratio of -4.12, a P/E/G ratio of 1.32 and a beta of 1.04. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The company’s fifty day simple moving average is $26.19 and its 200 day simple moving average is $29.26. The company has a quick ratio of 0.43, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was bought at an average cost of $24.95 per share, for a total transaction of $31,418,512.05. Following the completion of the transaction, the insider now 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders bought 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sirius XM

Hedge funds have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new stake in Sirius XM during the second quarter valued at approximately $12,858,000. Seizert Capital Partners LLC bought a new stake in shares of Sirius XM in the 3rd quarter worth approximately $46,173,000. Cubist Systematic Strategies LLC bought a new stake in shares of Sirius XM in the 2nd quarter worth approximately $5,192,000. SG Americas Securities LLC lifted its holdings in shares of Sirius XM by 516.5% in the 1st quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after acquiring an additional 1,341,352 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Sirius XM in the 2nd quarter worth approximately $3,616,000. 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.