StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

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

Several other research analysts have also recently issued reports on SIRI. JPMorgan Chase & Co. assumed coverage on Sirius XM in a research note on Wednesday, October 9th. They issued an “underweight” rating and a $20.00 price objective on the stock. Citigroup increased their price target on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Bank of America restated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Benchmark reiterated a “buy” rating and set a $43.00 target price on shares of Sirius XM in a report on Tuesday, October 15th. Finally, Morgan Stanley reissued an “underweight” rating and set a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.88.

Sirius XM Trading Down 0.5 %

Shares of SIRI opened at $26.20 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of -4.13, a PEG ratio of 1.37 and a beta of 1.04. The company has a 50-day moving average of $26.19 and a 200 day moving average of $29.26. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80.

Insider Activity

In other Sirius XM news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average cost of $27.43 per share, for a total transaction of $4,815,857.67. Following the purchase, the insider now directly owns 110,276,790 shares in the company, valued at $3,024,892,349.70. This 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 this hyperlink. In the last quarter, insiders acquired 2,646,761 shares of company stock worth $65,952,329. Insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

A number of institutional investors have recently bought and sold shares of the stock. Coston McIsaac & Partners lifted its stake in shares of Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after buying an additional 624 shares during the period. TCTC Holdings LLC purchased a new position in Sirius XM in the 3rd quarter worth $29,000. Bfsg LLC raised its stake in Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after acquiring an additional 1,235 shares during the last quarter. Princeton Global Asset Management LLC grew its stake in Sirius XM by 2,683.7% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Sirius XM by 113.6% in the third quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after purchasing an additional 1,938 shares during the period. 10.69% of the stock is currently owned by institutional investors and hedge funds.

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.