Sirius XM (NASDAQ:SIRI) Downgraded to “Sell” at Citigroup

Sirius XM (NASDAQ:SIRI) was downgraded by Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $2.80 target price on the stock. Citigroup’s price objective indicates a potential downside of 24.73% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Barrington Research reaffirmed an “outperform” rating and set a $4.75 price target on shares of Sirius XM in a research report on Monday, July 15th. Seaport Res Ptn raised Sirius XM from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Benchmark reduced their price target on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Wells Fargo & Company cut their price objective on Sirius XM from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Wednesday, May 1st. Finally, Rosenblatt Securities cut their price objective on Sirius XM from $4.50 to $3.40 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.07.

Sirius XM Stock Down 5.1 %

NASDAQ:SIRI opened at $3.72 on Thursday. Sirius XM has a twelve month low of $2.45 and a twelve month high of $5.78. The business has a 50 day moving average price of $3.06 and a two-hundred day moving average price of $3.76. The company has a market cap of $14.31 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.30 and a beta of 1.08.

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

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the sale, the director now owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. First United Bank & Trust bought a new position in Sirius XM during the 4th quarter worth $37,000. TFO Wealth Partners LLC increased its position 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 buying an additional 7,028 shares during the period. American National Bank bought a new position in Sirius XM during the 4th quarter worth $41,000. V Square Quantitative Management LLC increased its position in Sirius XM by 66.6% during the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after buying an additional 3,194 shares during the period. Finally, First PREMIER Bank bought a new position in Sirius XM during the 1st quarter worth $31,000. Institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

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.