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

StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report released on Wednesday. The brokerage issued a hold rating on the stock.

Several other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group dropped 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. Citigroup cut Sirius XM from a neutral rating to a sell rating and set a $28.00 price target on the stock. in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Sirius XM from $37.50 to $30.00 and set a hold rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities upped 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. Finally, Guggenheim decreased their price target on shares of Sirius XM from $33.00 to $29.00 and set a neutral rating for the company in a research report on Thursday, June 27th. Two 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $36.91.

Sirius XM Stock Performance

SIRI stock opened at $24.95 on Wednesday. The firm has a market cap of $95.97 billion, a P/E ratio of 75.61, a price-to-earnings-growth ratio of 0.90 and a beta of 1.08. Sirius XM has a 1 year low of $22.73 and a 1 year high of $57.80. The stock has a 50-day simple moving average of $31.34 and a 200-day simple moving average of $31.94.

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, meeting the consensus estimate of $0.80. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, equities research analysts predict that Sirius XM will post 3.14 EPS for the current year.

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.266 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s payout ratio is currently 321.21%.

Insider Buying and Selling at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s 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 owns 98,933 shares of the company’s stock, valued at $3,126,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SIRI. Berkshire Hathaway Inc raised its holdings in shares of 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 acquiring an additional 30,559,834 shares during the period. Point72 Asset Management L.P. acquired a new stake in Sirius XM during the 2nd quarter valued at $12,858,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Sirius XM in the second quarter valued at $5,192,000. SG Americas Securities LLC boosted its position in shares of Sirius XM by 516.5% in the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after buying an additional 1,341,352 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Sirius XM during the second quarter valued at $3,616,000. Institutional investors and hedge funds 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.