Sirius XM (NASDAQ:SIRI) Now Covered by StockNews.com

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Wednesday. The brokerage issued a hold rating on the stock.

Other equities research analysts have also issued reports about the company. Barrington Research reiterated an outperform rating and set a $47.50 price target on shares of Sirius XM in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sirius XM from $37.50 to $30.00 and set a hold rating for the company in a research report on Tuesday, August 6th. Citigroup lowered shares of Sirius XM from a neutral rating to a sell rating and set a $28.00 price target on the stock. in a research note on Thursday, July 25th. Guggenheim reduced their price objective on shares of Sirius XM from $33.00 to $29.00 and set a neutral rating for the company in a research note on Thursday, June 27th. Finally, The Goldman Sachs Group lowered their target price on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $36.91.

Sirius XM Stock Up 3.9 %

SIRI stock opened at $24.95 on Wednesday. The company has a 50 day moving average of $31.34 and a two-hundred day moving average of $31.94. The company has a market cap of $95.97 billion, a price-to-earnings ratio of 75.61, a PEG ratio of 0.90 and a beta of 1.08. Sirius XM has a 12-month low of $22.73 and a 12-month high of $57.80.

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

Sirius XM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.266 dividend. The ex-dividend date was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.26%. Sirius XM’s payout ratio is presently 321.21%.

Insider Buying and Selling

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

Institutional Trading of Sirius XM

A number of hedge funds have recently bought and sold shares of SIRI. Sanctuary Advisors LLC acquired a new position in shares of Sirius XM during the second quarter valued at about $3,041,000. Point72 Asset Management L.P. bought a new position in Sirius XM during the second quarter valued at about $12,858,000. Creative Planning raised its holdings in Sirius XM by 12.1% in the 2nd quarter. Creative Planning now owns 844,387 shares of the company’s stock valued at $2,390,000 after acquiring an additional 91,223 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sirius XM by 37.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,600 shares of the company’s stock worth $800,000 after acquiring an additional 76,552 shares during the period. Finally, Dark Forest Capital Management LP grew its holdings in shares of Sirius XM by 44.5% during the 2nd quarter. Dark Forest Capital Management LP now owns 100,688 shares of the company’s stock worth $285,000 after purchasing an additional 31,000 shares in the last quarter. 10.69% of the stock is owned by 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.