Sirius XM (NASDAQ:SIRI) Now Covered by StockNews.com

StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Saturday morning. The firm issued a hold rating on the stock.

A number of other research firms have also issued reports on SIRI. Pivotal Research raised shares of Sirius XM from a hold rating to a buy rating and reduced their target price for the company from $5.05 to $4.90 in a research note on Wednesday, April 24th. Guggenheim decreased their price objective on Sirius XM from $3.30 to $2.90 and set a neutral rating for the company in a report on Thursday, June 27th. Evercore ISI upgraded Sirius XM from an underperform rating to an in-line rating and reduced their price target for the stock from $4.25 to $3.25 in a research report on Monday, June 24th. Wells Fargo & Company lowered their price target on Sirius XM from $3.00 to $2.50 and set an underweight rating on the stock in a report on Wednesday, May 1st. Finally, Rosenblatt Securities reduced their price objective on shares of Sirius XM from $4.50 to $3.40 and set a neutral rating for the company in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $3.80.

Sirius XM Stock Performance

SIRI stock opened at $3.08 on Friday. Sirius XM has a 1 year low of $2.45 and a 1 year high of $5.78. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 1.06 and a beta of 1.08. The stock’s fifty day moving average is $3.12 and its two-hundred day moving average is $3.66.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be given a $0.0266 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.11 annualized dividend and a yield of 3.45%. Sirius XM’s dividend payout ratio (DPR) is 30.30%.

Insider Transactions at Sirius XM

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

Hedge Funds Weigh In On Sirius XM

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of Sirius XM in the second quarter worth $28,000. First PREMIER Bank purchased a new position in Sirius XM during the 1st quarter valued at about $31,000. Walker Asset Management LLC acquired a new stake in shares of Sirius XM during the second quarter worth approximately $33,000. Strategic Financial Concepts LLC purchased a new position in Sirius XM during the second quarter valued at approximately $36,000. Finally, First United Bank & Trust acquired a new position in Sirius XM in the 4th quarter valued at approximately $37,000. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

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.