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

Research analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report issued on Sunday. The firm set a “hold” rating on the stock.

A number of other research firms also recently weighed in on SIRI. Citigroup raised shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Benchmark cut their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Rosenblatt Securities cut their price objective on shares of Sirius XM from $4.50 to $3.40 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group upgraded shares of Sirius XM from a “sell” rating to a “neutral” rating and lowered their target price for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Finally, Barrington Research restated an “outperform” rating and set a $4.75 target price on shares of Sirius XM in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.33.

Sirius XM Trading Up 1.5 %

Shares of NASDAQ SIRI opened at $2.65 on Friday. Sirius XM has a 12 month low of $2.45 and a 12 month high of $7.95. The firm has a market capitalization of $10.19 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 0.85 and a beta of 1.08. The firm has a fifty day simple moving average of $2.94 and a two-hundred day simple moving average of $4.13.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts predict that Sirius XM will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the transaction, the director now owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

A number of hedge funds have recently added to or reduced their stakes in SIRI. Vanguard Group Inc. increased its holdings in shares of Sirius XM by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after acquiring an additional 363,551 shares in the last quarter. Berkshire Hathaway Inc increased its holdings in Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock worth $220,130,000 after buying an additional 30,559,834 shares during the period. AQR Capital Management LLC increased its holdings in 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 buying an additional 12,129,166 shares during the period. Northern Trust Corp increased its holdings in Sirius XM by 18.7% in 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 period. Finally, Invesco Ltd. increased its holdings in Sirius XM by 24.1% in the 3rd quarter. Invesco Ltd. now owns 8,671,095 shares of the company’s stock worth $39,193,000 after buying an additional 1,685,696 shares during the period. 10.69% of the stock is owned by hedge funds and other 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.