Sirius XM’s (SIRI) Buy Rating Reiterated at Guggenheim

Sirius XM (NASDAQ:SIRI)‘s stock had its “buy” rating reaffirmed by stock analysts at Guggenheim in a report released on Wednesday,Benzinga reports. They currently have a $30.00 price objective on the stock. Guggenheim’s price target points to a potential upside of 21.31% from the stock’s previous close.

SIRI has been the topic of a number of other research reports. Rosenblatt Securities lifted their target price on Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday. Morgan Stanley reiterated an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. The Goldman Sachs Group reduced their target price on shares of Sirius XM from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. 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, Barrington Research restated an “outperform” rating and issued a $40.00 price objective on shares of Sirius XM in a report on Monday, November 4th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.04.

Sirius XM Price Performance

Shares of NASDAQ SIRI traded down $0.49 during mid-day trading on Wednesday, reaching $24.73. The company had a trading volume of 2,313,972 shares, compared to its average volume of 3,630,637. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.37 and a current ratio of 0.37. Sirius XM has a one year low of $22.18 and a one year high of $57.80. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of -3.90 and a beta of 1.03. The business’s 50-day simple moving average is $26.25 and its 200 day simple moving average is $28.63.

Insider Activity at Sirius XM

In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares of the company’s stock, valued at approximately $2,496,884,722.95. This trade represents a 0.83 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sirius XM

A number of large investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Sirius XM during the 2nd quarter worth approximately $12,858,000. Sessa Capital IM L.P. bought a new position in shares of Sirius XM in the third quarter worth $77,983,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Sirius XM in the third quarter worth $67,598,000. Seizert Capital Partners LLC bought a new stake in Sirius XM during the third quarter valued at $46,173,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Sirius XM during the second quarter worth about $5,192,000. 10.69% of the stock is currently owned by institutional investors.

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.