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

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

Other equities research analysts have also recently issued research reports about the stock. Benchmark lowered their price objective on shares of Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research report on Wednesday, March 27th. Pivotal Research upgraded shares of Sirius XM from a hold rating to a buy rating and dropped their price objective for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. Rosenblatt Securities decreased their price objective on Sirius XM from $4.50 to $3.40 and set a neutral rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group raised Sirius XM from a sell rating to a neutral rating and lowered their target price for the company from $3.50 to $3.25 in a research note on Wednesday, May 1st. Finally, Seaport Res Ptn raised Sirius XM from a neutral rating to a buy rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $4.11.

Sirius XM Trading Up 2.8 %

Shares of Sirius XM stock opened at $3.71 on Wednesday. Sirius XM has a 1-year low of $2.45 and a 1-year high of $7.95. The firm’s 50-day moving average price is $2.93 and its two-hundred day moving average price is $3.87. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.18 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $0.06 EPS. Sirius XM’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts predict that Sirius XM will post 0.31 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were paid a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a yield of 2.87%. The ex-dividend date was Thursday, May 9th. Sirius XM’s payout ratio is 33.33%.

Insider Activity at Sirius XM

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total value of $32,546.80. Following the sale, the director now directly owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Several large investors have recently modified their holdings of the business. Berkshire Hathaway Inc grew its position in shares of Sirius XM by 315.6% in the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after purchasing an additional 30,559,834 shares during the period. SG Americas Securities LLC lifted its stake in Sirius XM by 516.5% in the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock valued at $6,212,000 after buying an additional 1,341,352 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Sirius XM by 25.8% in the first quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock valued at $14,542,000 after buying an additional 768,570 shares during the period. Van ECK Associates Corp bought a new stake in shares of Sirius XM during the first quarter worth $2,036,000. Finally, Boulder Hill Capital Management LP acquired a new stake in shares of Sirius XM during the fourth quarter worth $2,473,000. 10.69% of the stock is currently owned by institutional investors.

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.