Sirius XM (NASDAQ:SIRI) Upgraded to “Buy” at Seaport Res Ptn

Sirius XM (NASDAQ:SIRI) was upgraded by analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports.

A number of other equities research analysts have also issued reports on SIRI. StockNews.com started coverage on Sirius XM in a research report on Monday. They issued a “hold” rating on the stock. Pivotal Research raised shares of Sirius XM from a “hold” rating to a “buy” rating and reduced their target price for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. Guggenheim initiated coverage on shares of Sirius XM in a report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price target for the company. Citigroup upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $4.10 to $3.30 in a report on Wednesday, April 24th. Finally, Benchmark lowered their target price 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus target price of $4.67.

Sirius XM Stock Up 5.0 %

Shares of NASDAQ SIRI opened at $3.17 on Monday. The business’s 50 day moving average is $3.82 and its two-hundred day moving average is $4.59. Sirius XM has a 52-week low of $2.97 and a 52-week high of $7.95. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 1.02 and a beta of 1.04.

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

Insider Transactions at Sirius XM

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

Institutional Investors Weigh In On Sirius XM

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Sirius XM by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after purchasing an additional 363,551 shares during the period. Berkshire Hathaway Inc boosted its stake in shares of Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after acquiring an additional 30,559,834 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Sirius XM by 482.9% in the 3rd quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock worth $66,178,000 after acquiring an additional 12,129,166 shares during the period. Northern Trust Corp raised its stake in shares of Sirius XM by 18.7% during the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after buying an additional 1,776,700 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Sirius XM by 169.6% during the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock worth $46,572,000 after acquiring an additional 6,482,109 shares during the last quarter. 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.