Sirius XM (NASDAQ:SIRI) Downgraded by Guggenheim to “Hold”

Sirius XM (NASDAQ:SIRI) was downgraded by investment analysts at Guggenheim from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

SIRI has been the topic of several other reports. Barrington Research reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Sirius XM in a report on Monday. StockNews.com began coverage on Sirius XM in a report on Tuesday. They set a “hold” rating on the stock. The Goldman Sachs Group decreased their price target on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Citigroup increased their price target 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.96.

Sirius XM Stock Down 0.9 %

Shares of SIRI stock traded down $0.24 during trading hours on Wednesday, reaching $25.88. 1,668,989 shares of the company’s stock were exchanged, compared to its average volume of 3,501,116. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The company has a market cap of $8.78 billion, a price-to-earnings ratio of -4.12, a P/E/G ratio of 1.32 and a beta of 1.04. Sirius XM has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The stock’s 50 day moving average is $26.19 and its 200-day moving average is $29.26.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were purchased at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the purchase, the insider now owns 108,719,088 shares in the company, valued at approximately $2,712,541,245.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders bought 2,646,761 shares of company stock worth $65,952,329. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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