Sirius XM (NASDAQ:SIRI) Upgraded at Pivotal Research

Sirius XM (NASDAQ:SIRI) was upgraded by investment analysts at Pivotal Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $4.90 target price on the stock, down from their prior target price of $5.05. Pivotal Research’s price objective points to a potential upside of 55.06% from the company’s previous close.

Several other brokerages have also commented on SIRI. Benchmark dropped their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, March 27th. StockNews.com initiated coverage on Sirius XM in a report on Sunday. They issued a “hold” rating on the stock. Wells Fargo & Company decreased their target price on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research report on Monday, April 1st. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and decreased their target price for the company from $4.10 to $3.30 in a research report on Wednesday. Finally, Guggenheim initiated coverage on Sirius XM in a research report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.67.

Sirius XM Stock Up 1.0 %

Sirius XM stock opened at $3.16 on Wednesday. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. Sirius XM has a 52 week low of $3.04 and a 52 week high of $7.95. The business’s 50-day moving average price is $3.96 and its 200 day moving average price is $4.63.

Sirius XM (NASDAQ:SIRI) last posted its earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.30 billion. Equities analysts expect that Sirius XM will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sirius XM

Institutional investors have recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Sirius XM in the third quarter valued at $27,000. BKM Wealth Management LLC acquired a new stake in shares of Sirius XM in the fourth quarter valued at $27,000. First PREMIER Bank acquired a new stake in shares of Sirius XM in the first quarter valued at $31,000. First United Bank & Trust acquired a new position in Sirius XM during the 4th quarter worth $37,000. Finally, TFO Wealth Partners LLC grew its stake in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after purchasing an additional 7,028 shares in the last quarter. 10.69% of the stock is owned by institutional investors and hedge funds.

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.