Sirius XM (NASDAQ:SIRI) Receives “Outperform” Rating from Barrington Research

Barrington Research restated their outperform rating on shares of Sirius XM (NASDAQ:SIRI) in a research report sent to investors on Monday, Benzinga reports. They currently have a $40.00 target price on the stock.

Several other research analysts have also recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, September 18th. Morgan Stanley restated an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Tuesday, September 24th. JPMorgan Chase & Co. initiated coverage on Sirius XM in a report on Wednesday, October 9th. They set an “underweight” rating and a $20.00 price target for the company. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $28.00 price objective on shares of Sirius XM in a report on Monday. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Sirius XM currently has a consensus rating of “Hold” and a consensus price target of $28.88.

Sirius XM Stock Performance

Shares of SIRI traded up $0.44 during midday trading on Monday, hitting $26.10. The company had a trading volume of 725,775 shares, compared to its average volume of 3,469,971. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37. The company’s 50-day simple moving average is $26.42 and its 200-day simple moving average is $29.32.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.14%. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date is Tuesday, November 5th. Sirius XM’s payout ratio is presently -16.72%.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the purchase, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the transaction, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,646,761 shares of company stock worth $65,952,329 in the last 90 days. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Sirius XM by 2.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,099,258 shares of the company’s stock valued at $8,145,000 after buying an additional 50,323 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Sirius XM by 32.9% during the 1st quarter. Principal Financial Group Inc. now owns 54,026 shares of the company’s stock worth $210,000 after purchasing an additional 13,364 shares during the period. Van ECK Associates Corp purchased a new position in shares of Sirius XM in the 1st quarter valued at about $2,036,000. Janney Montgomery Scott LLC increased its holdings in shares of Sirius XM by 239.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock valued at $703,000 after purchasing an additional 127,689 shares in the last quarter. Finally, Graypoint LLC acquired a new stake in shares of Sirius XM in the first quarter valued at about $39,000. 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.