Sirius XM (NASDAQ:SIRI) Receives Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Sirius XM (NASDAQ:SIRI) in a report released on Monday morning, Benzinga reports. They currently have a $40.00 target price on the stock.

Other research analysts also recently issued reports about the company. Guggenheim upgraded Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Wednesday, September 18th. Pivotal Research dropped their price target on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup increased their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Morgan Stanley reissued an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. Finally, StockNews.com assumed coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a “hold” rating for the company. Five equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.88.

Sirius XM Price Performance

SIRI traded up $0.44 during trading on Monday, hitting $26.10. The stock had a trading volume of 725,775 shares, compared to its average volume of 3,469,971. The stock has a 50 day simple moving average of $26.42 and a two-hundred day simple moving average of $29.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is currently -16.72%.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the business’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 in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction 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 owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Berkshire Hathaway Inc acquired 175,569 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average cost of $27.43 per share, with a total value of $4,815,857.67. Following the acquisition, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,646,761 shares of company stock valued at $65,952,329 in the last three months. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Sirius XM

Several institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Sirius XM in the second quarter valued at about $12,858,000. Dimensional Fund Advisors LP boosted its position in shares of Sirius XM by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock worth $12,260,000 after purchasing an additional 353,860 shares during the period. AQR Capital Management LLC increased its holdings in Sirius XM by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 3,866,444 shares of the company’s stock valued at $10,807,000 after purchasing an additional 490,761 shares during the last quarter. ProShare Advisors LLC raised its position in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after purchasing an additional 768,570 shares during the period. Finally, AustralianSuper Pty Ltd lifted its stake in Sirius XM by 58.6% during the second quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock worth $6,911,000 after purchasing an additional 902,079 shares in the last quarter. Hedge funds and other 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.