Sirius XM (NASDAQ:SIRI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

SIRI has been the subject of several other research reports. The Goldman Sachs Group raised Sirius XM from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $3.50 to $3.25 in a report on Wednesday, May 1st. Benchmark decreased their price objective on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Barrington Research reaffirmed an “outperform” rating and issued a $4.75 price target on shares of Sirius XM in a report on Tuesday, May 28th. Evercore ISI raised Sirius XM from an “underperform” rating to an “in-line” rating and reduced their price target for the stock from $4.25 to $3.25 in a report on Monday, June 24th. Finally, Pivotal Research raised Sirius XM from a “hold” rating to a “buy” rating and reduced their price target for the stock from $5.05 to $4.90 in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.11.

Sirius XM Stock Performance

Sirius XM stock opened at $3.61 on Wednesday. The business’s 50-day simple moving average is $2.92 and its two-hundred day simple moving average is $3.90. The company has a market cap of $13.89 billion, a PE ratio of 10.94, a PEG ratio of 1.06 and a beta of 1.08. Sirius XM has a fifty-two week low of $2.45 and a fifty-two week high of $7.95.

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

Insider Buying and Selling at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the completion of the transaction, the director now owns 169,309 shares of the company’s stock, valued at $440,203.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

A number of large investors have recently made changes to their positions in SIRI. Berkshire Hathaway Inc grew its position in shares of Sirius XM by 315.6% in 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 in the last quarter. SG Americas Securities LLC grew its position in 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 acquiring an additional 1,341,352 shares during the period. ProShare Advisors LLC grew its position in Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after acquiring an additional 768,570 shares during the period. Van ECK Associates Corp purchased a new position in Sirius XM in the first quarter worth approximately $2,036,000. Finally, Boulder Hill Capital Management LP purchased a new position in Sirius XM in the fourth quarter worth approximately $2,473,000. 10.69% of the stock is currently owned by hedge funds and other 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.