StockNews.com Begins Coverage on Sirius XM (NASDAQ:SIRI)

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

A number of other equities analysts have also issued reports on SIRI. Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a neutral rating and a $4.00 target price on the stock. Wells Fargo & Company reduced their target price on shares of 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 boosted their price target on shares of Sirius XM from $3.60 to $4.10 and gave the stock a sell rating in a research note on Friday, January 12th. Finally, Benchmark dropped their price target on shares of Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research note on Wednesday, March 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $4.74.

Sirius XM Stock Up 1.0 %

NASDAQ:SIRI opened at $3.16 on Friday. The firm has a market cap of $12.15 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. Sirius XM has a 12 month low of $3.04 and a 12 month high of $7.95. The company’s 50-day moving average price is $3.96 and its two-hundred day moving average price is $4.63.

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

Insider Buying and Selling at Sirius XM

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp boosted its holdings in shares of Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after buying an additional 1,776,700 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Sirius XM in the fourth quarter valued at approximately $1,669,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Sirius XM by 16.7% in the third quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock valued at $110,000 after buying an additional 3,495 shares during the period. TIAA Trust National Association boosted its holdings in shares of Sirius XM by 92.9% in the fourth quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock valued at $218,000 after buying an additional 19,161 shares during the period. Finally, ING Groep NV acquired a new position in Sirius XM during the third quarter worth $2,110,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.