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

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

Several other equities research analysts have also recently issued reports on SIRI. Benchmark lowered their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a report on Wednesday, March 27th. Wells Fargo & Company decreased their target price on shares of Sirius XM from $3.00 to $2.50 and set an underweight rating on the stock in a research note on Wednesday, May 1st. Evercore ISI raised shares of Sirius XM from an underperform rating to an in-line rating and decreased their target price for the stock from $4.25 to $3.25 in a research note on Monday, June 24th. Barrington Research reissued an outperform rating and issued a $4.75 target price on shares of Sirius XM in a research note on Tuesday, May 28th. Finally, Seaport Res Ptn raised shares of Sirius XM from a neutral rating to a buy rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $4.11.

Sirius XM Trading Up 13.9 %

SIRI stock opened at $3.53 on Tuesday. Sirius XM has a 12-month low of $2.45 and a 12-month high of $7.95. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.01 and a beta of 1.08. The business’s 50-day moving average is $2.87 and its 200 day moving average is $3.96.

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

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were issued a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, May 9th. Sirius XM’s dividend payout ratio is presently 33.33%.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.

Institutional Trading of Sirius XM

A number of large investors have recently modified their holdings of SIRI. BKM Wealth Management LLC purchased a new stake in shares of Sirius XM during the fourth quarter worth $27,000. First PREMIER Bank purchased a new stake in shares of Sirius XM during the first quarter worth $31,000. First United Bank & Trust purchased a new stake in shares of Sirius XM during the fourth quarter worth $37,000. TFO Wealth Partners LLC increased its position in shares of Sirius XM by 140,560.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after acquiring an additional 7,028 shares during the period. Finally, Graypoint LLC purchased a new stake in shares of Sirius XM during the first quarter worth $39,000. 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.