Sirius XM (NASDAQ:SIRI) Given New $26.00 Price Target at The Goldman Sachs Group

Sirius XM (NASDAQ:SIRI) had its price target lowered by equities researchers at The Goldman Sachs Group from $32.50 to $26.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 9.01% from the stock’s current price.

SIRI has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. StockNews.com started coverage on shares of Sirius XM in a report on Monday, August 19th. They issued a “hold” rating for the company. Rosenblatt Securities boosted their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a report on Monday. Barrington Research reissued an “outperform” rating and issued a $47.50 price objective on shares of Sirius XM in a report on Monday, July 15th. Finally, Guggenheim cut their price objective on shares of Sirius XM from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.82.

Sirius XM Trading Up 0.9 %

Shares of SIRI stock traded up $0.21 during trading hours on Tuesday, hitting $23.85. 342,488 shares of the company were exchanged, compared to its average volume of 2,750,491. The company has a market capitalization of $91.74 billion, a PE ratio of 72.12, a PEG ratio of 0.90 and a beta of 1.08. Sirius XM has a 52 week low of $22.73 and a 52 week high of $57.80. The business has a 50 day moving average of $32.28 and a two-hundred day moving average of $32.38.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, research analysts forecast that Sirius XM will post 3.14 EPS for the current year.

Insider Buying and Selling

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the sale, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

A number of large investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Sirius XM by 1.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 573,562 shares of the company’s stock valued at $3,120,000 after purchasing an additional 9,956 shares during the last quarter. Van ECK Associates Corp bought a new stake in Sirius XM during the first quarter valued at approximately $2,036,000. Morningstar Investment Services LLC bought a new stake in Sirius XM during the fourth quarter valued at approximately $85,000. Assetmark Inc. lifted its position in Sirius XM by 1,320.9% during the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock valued at $214,000 after purchasing an additional 36,326 shares during the last quarter. Finally, Jump Financial LLC lifted its position in Sirius XM by 25.2% during the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after purchasing an additional 8,541 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

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.