Sirius XM (NASDAQ:SIRI) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the stock.

Other research analysts have also issued research reports about the company. Rosenblatt Securities increased their target price on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, September 18th. Evercore ISI raised shares of Sirius XM from an “underperform” rating to an “in-line” rating and cut their target price for the stock from $42.50 to $32.50 in a research note on Monday, June 24th. The Goldman Sachs Group decreased their price target on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $34.27.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $24.38 on Thursday. The stock has a market capitalization of $93.78 billion, a price-to-earnings ratio of 73.88, a PEG ratio of 0.83 and a beta of 1.08. The firm’s 50 day simple moving average is $30.29 and its 200-day simple moving average is $31.53. Sirius XM has a 12 month low of $22.73 and a 12 month high of $57.80.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Analysts anticipate that Sirius XM will post 3.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Sirius XM

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 approximately $3,126,282.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by company insiders.

Institutional Trading of Sirius XM

Several institutional investors have recently made changes to their positions in the company. TFO Wealth Partners LLC increased its stake in Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of 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 purchasing an additional 3,194 shares during the last quarter. First PREMIER Bank purchased a new stake in Sirius XM in the 1st quarter valued at about $31,000. ICA Group Wealth Management LLC acquired a new position in Sirius XM in the fourth quarter valued at about $48,000. Finally, Avenir Corp purchased a new position in Sirius XM during the fourth quarter worth about $55,000. 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.