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

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

Several other research analysts have also issued reports on SIRI. Guggenheim upgraded shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, September 18th. Bank of America reaffirmed an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research report on Thursday, October 24th. Benchmark reiterated a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Rosenblatt Securities boosted their price objective on Sirius XM from $3.40 to $28.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, Citigroup raised their target price on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Five analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.62.

Sirius XM Stock Down 0.9 %

Shares of SIRI stock opened at $27.39 on Monday. The stock has a 50-day simple moving average of $26.71 and a 200 day simple moving average of $29.43. Sirius XM has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The stock has a market capitalization of $10.55 billion, a P/E ratio of 8.30, a P/E/G ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. On average, sell-side analysts anticipate that Sirius XM will post 3.25 earnings per share for the current year.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 3.94%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s dividend payout ratio (DPR) is currently 32.73%.

Insider Buying and Selling at Sirius XM

In other news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was acquired at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the purchase, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were acquired at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction on 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 sale, the insider now owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 2,646,761 shares of company stock worth $65,952,329 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in Sirius XM during the first quarter worth approximately $2,036,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Sirius XM by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,124,339 shares of the company’s stock valued at $4,325,000 after buying an additional 101,713 shares during the last quarter. Bessemer Group Inc. grew its stake in Sirius XM by 1,205.4% in the 1st quarter. Bessemer Group Inc. now owns 452,570 shares of the company’s stock valued at $1,756,000 after buying an additional 417,900 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Sirius XM by 1.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 579,793 shares of the company’s stock worth $2,250,000 after acquiring an additional 6,231 shares during the period. Finally, Norden Group LLC lifted its position in Sirius XM by 1,559.4% during the 1st quarter. Norden Group LLC now owns 242,172 shares of the company’s stock worth $940,000 after acquiring an additional 227,578 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.