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

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

Other research analysts also recently issued reports about the company. Evercore ISI raised Sirius XM from an underperform rating to an in-line rating and dropped their price target for the stock from $42.50 to $32.50 in a research report on Monday, June 24th. Rosenblatt Securities upped their price target on Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a research report on Monday, September 16th. Morgan Stanley reaffirmed an underweight rating and set a $23.00 price objective on shares of Sirius XM in a report on Tuesday, September 24th. The Goldman Sachs Group decreased their target price on Sirius XM from $32.50 to $26.00 and set a neutral rating on the stock in a report on Tuesday, September 17th. Finally, 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $34.27.

Sirius XM Trading Up 1.7 %

SIRI opened at $23.12 on Friday. The stock has a market cap of $88.93 billion, a price-to-earnings ratio of 69.91, a PEG ratio of 0.83 and a beta of 1.07. The stock has a fifty day moving average price of $28.63 and a 200 day moving average price of $30.68. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm 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%. As a group, sell-side analysts forecast that Sirius XM will post 3.08 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.266 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.60%. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio is currently 321.21%.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC lifted its holdings in Sirius XM by 140,560.0% during the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock valued at $38,000 after purchasing an additional 7,028 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Sirius XM by 66.6% in the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after acquiring an additional 3,194 shares during the last quarter. First PREMIER Bank acquired a new stake in Sirius XM in the first quarter valued at approximately $31,000. Avenir Corp acquired a new stake in shares of Sirius XM during the 4th quarter valued at $55,000. Finally, Keynote Financial Services LLC bought a new stake in Sirius XM during the 1st quarter worth $39,000. 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.