Sirius XM (NASDAQ:SIRI) Price Target Lowered to $21.00 at Morgan Stanley

Sirius XM (NASDAQ:SIRI) had its price objective cut by Morgan Stanley from $23.00 to $21.00 in a report issued on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other equities research analysts have also recently issued reports on SIRI. Pivotal Research decreased their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Wells Fargo & Company lowered their price objective on Sirius XM from $22.00 to $16.00 and set an “underweight” rating on the stock in a report on Thursday, December 19th. Barrington Research reduced their target price on Sirius XM from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. Finally, Rosenblatt Securities lifted their price target on shares of Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $27.42.

Sirius XM Price Performance

NASDAQ SIRI opened at $22.13 on Thursday. The company has a 50 day moving average price of $24.09 and a two-hundred day moving average price of $27.43. Sirius XM has a 12-month low of $20.47 and a 12-month high of $55.40. The stock has a market capitalization of $7.51 billion, a PE ratio of -3.49, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Friday, February 7th. Sirius XM’s dividend payout ratio (DPR) is presently -17.03%.

Hedge Funds Weigh In On Sirius XM

Several large investors have recently added to or reduced their stakes in SIRI. Point72 Asset Management L.P. bought a new stake in shares of Sirius XM during the second quarter valued at approximately $12,858,000. Sessa Capital IM L.P. bought a new stake in Sirius XM in the 3rd quarter valued at $77,983,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Sirius XM in the 3rd quarter valued at $67,598,000. Seizert Capital Partners LLC bought a new position in shares of Sirius XM during the 3rd quarter worth about $46,173,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Sirius XM during the 2nd quarter valued at about $5,192,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.