Sirius XM (NASDAQ:SIRI) Price Target Cut to $21.00 by Analysts at Morgan Stanley

Sirius XM (NASDAQ:SIRI) had its price objective cut by Morgan Stanley from $23.00 to $21.00 in a report released on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other analysts have also weighed in on SIRI. Guggenheim reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sirius XM in a research note on Wednesday, December 11th. Rosenblatt Securities increased their price target on Sirius XM from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Benchmark reiterated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. The Goldman Sachs Group cut their price objective on Sirius XM from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, StockNews.com initiated coverage on Sirius XM in a report on Wednesday, November 13th. They set a “sell” rating on the stock. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.42.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $22.13 on Thursday. The firm’s 50-day simple moving average is $24.09 and its 200 day simple moving average is $27.43. The stock has a market cap of $7.51 billion, a P/E ratio of -3.49, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.93. Sirius XM has a fifty-two week low of $20.47 and a fifty-two week high of $55.40.

Sirius XM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be issued a $0.27 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 4.88%. Sirius XM’s payout ratio is currently -17.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Union Bancaire Privee UBP SA purchased a new stake in Sirius XM in the 4th quarter worth about $26,000. Coston McIsaac & Partners boosted its holdings 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 purchasing an additional 624 shares during the period. TCTC Holdings LLC purchased a new position in Sirius XM during the third quarter valued at approximately $29,000. Geneos Wealth Management Inc. increased its stake in Sirius XM by 574.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,343 shares of the company’s stock valued at $31,000 after buying an additional 1,144 shares during the period. Finally, Princeton Global Asset Management LLC lifted its position in Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock worth $32,000 after buying an additional 1,315 shares in the last quarter. Hedge funds and other institutional investors 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.