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

StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Saturday. The firm issued a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Guggenheim upgraded shares of Sirius XM from a neutral rating to a buy rating and set a $30.00 target price for the company in a research note on Wednesday, September 18th. Evercore ISI upgraded Sirius XM from an underperform rating to an in-line rating and reduced their price objective for the stock from $42.50 to $32.50 in a report on Monday, June 24th. Benchmark decreased their target price on Sirius XM from $65.00 to $43.00 and set a buy rating on the stock in a research report on Tuesday, October 8th. The Goldman Sachs Group reduced their price target on Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a research note on Tuesday, September 17th. Finally, Rosenblatt Securities increased their price objective on Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Sirius XM currently has a consensus rating of Hold and an average target price of $31.25.

Sirius XM Stock Performance

NASDAQ SIRI opened at $27.08 on Friday. Sirius XM has a 52 week low of $22.18 and a 52 week high of $57.80. The stock’s 50 day moving average price is $27.52 and its two-hundred day moving average price is $29.99. The stock has a market capitalization of $104.17 billion, a price-to-earnings ratio of 82.06, a PEG ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, equities research analysts forecast that Sirius XM will post 3.25 EPS for the current year.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.266 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.93%. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s dividend payout ratio (DPR) is presently 321.21%.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the company’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 transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction dated Wednesday, October 9th. The shares were bought at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the transaction, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Sirius XM during the second quarter worth about $12,858,000. Cubist Systematic Strategies LLC bought a new position in shares of Sirius XM in the 2nd quarter worth $5,192,000. SG Americas Securities LLC increased its holdings in shares of Sirius XM by 516.5% in the 1st quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after buying an additional 1,341,352 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Sirius XM during the 2nd quarter valued at $3,616,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sirius XM during the 2nd quarter worth $3,238,000. 10.69% of the stock is owned by hedge funds and other 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.