Sirius XM (NASDAQ:SIRI) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note issued to investors on Friday morning. The firm issued a hold rating on the stock.

Several other research firms have also commented on SIRI. Citigroup lowered Sirius XM from a neutral rating to a sell rating and set a $2.80 target price on the stock. in a report on Thursday. Barrington Research reissued an outperform rating and issued a $4.75 target price on shares of Sirius XM in a report on Monday, July 15th. Seaport Res Ptn raised Sirius XM from a neutral rating to a buy rating in a report on Monday, April 29th. Pivotal Research raised Sirius XM from a hold rating to a buy rating and dropped their target price for the company from $5.05 to $4.90 in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group raised Sirius XM from a sell rating to a neutral rating and dropped their target price for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $4.07.

Sirius XM Stock Performance

SIRI opened at $3.72 on Friday. Sirius XM has a one year low of $2.45 and a one year high of $5.78. The stock has a market capitalization of $14.31 billion, a PE ratio of 11.27, a P/E/G ratio of 1.22 and a beta of 1.08. The business’s 50 day moving average price is $3.06 and its 200 day moving average price is $3.74.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be issued a $0.0266 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.11 dividend on an annualized basis and a yield of 2.86%. Sirius XM’s dividend payout ratio is currently 33.33%.

Insiders Place Their Bets

In other news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the completion of the sale, the director now owns 169,309 shares of the company’s stock, valued at approximately $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Sirius XM

Institutional investors have recently made changes to their positions in the stock. Berkshire Hathaway Inc lifted its stake in Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the last quarter. SG Americas Securities LLC lifted its stake in Sirius XM by 516.5% during the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock valued at $6,212,000 after purchasing an additional 1,341,352 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of Sirius XM by 58.6% during the second quarter. AustralianSuper Pty Ltd now owns 2,442,093 shares of the company’s stock valued at $6,911,000 after acquiring an additional 902,079 shares during the period. ProShare Advisors LLC raised its holdings in shares of Sirius XM by 25.8% during the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after acquiring an additional 768,570 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in shares of Sirius XM during the first quarter valued at approximately $2,036,000. 10.69% of the stock is owned by institutional investors and hedge funds.

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.