Sirius XM (NASDAQ:SIRI) Earns Hold Rating from Analysts at StockNews.com

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

Several other analysts also recently weighed in on SIRI. Barrington Research reaffirmed an outperform rating and set a $4.75 price target on shares of Sirius XM in a research note on Monday, July 15th. Guggenheim dropped their price target on Sirius XM from $3.30 to $2.90 and set a neutral rating on the stock in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft cut their price target on Sirius XM from $3.75 to $3.00 and set a hold rating on the stock in a research note on Tuesday, August 6th. Pivotal Research raised shares of Sirius XM from a hold rating to a buy rating and lowered their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Finally, Seaport Res Ptn raised shares of Sirius XM from a neutral rating to a buy rating in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $3.80.

Sirius XM Trading Up 0.6 %

Shares of SIRI opened at $3.27 on Monday. The firm has a fifty day moving average price of $3.22 and a 200-day moving average price of $3.48. The firm has a market capitalization of $12.58 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.06 and a beta of 1.08. Sirius XM has a 12-month low of $2.45 and a 12-month high of $5.78.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be given a dividend of $0.0266 per share. The ex-dividend date is Friday, August 9th. This represents a $0.11 dividend on an annualized basis and a yield of 3.25%. Sirius XM’s payout ratio is 30.30%.

Insiders Place Their Bets

In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the completion of the sale, the insider now owns 989,331 shares in the company, valued at approximately $3,126,285.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Scott Andrew Greenstein sold 1,447,238 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $3.16, for a total transaction of $4,573,272.08. Following the sale, the insider now owns 989,331 shares in the company, valued at $3,126,285.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristina Salen sold 12,518 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $2.62, for a total transaction of $32,797.16. Following the completion of the transaction, the director now directly owns 181,827 shares of the company’s stock, valued at $476,386.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,472,274 shares of company stock valued at $4,638,616. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sirius XM

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Sirius XM by 449.7% in the 4th quarter. International Assets Investment Management LLC now owns 13,320 shares of the company’s stock worth $73,000 after buying an additional 10,897 shares during the period. Cerity Partners LLC raised its holdings in shares of Sirius XM by 60.6% during the fourth quarter. Cerity Partners LLC now owns 37,357 shares of the company’s stock worth $205,000 after purchasing an additional 14,089 shares during the last quarter. abrdn plc lifted its position in Sirius XM by 100.1% during the fourth quarter. abrdn plc now owns 223,911 shares of the company’s stock valued at $1,225,000 after purchasing an additional 111,991 shares during the period. Lindbrook Capital LLC boosted its holdings in Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after purchasing an additional 2,139 shares during the last quarter. Finally, Signaturefd LLC grew its position in Sirius XM by 21.1% during the 4th quarter. Signaturefd LLC now owns 28,455 shares of the company’s stock worth $156,000 after purchasing an additional 4,955 shares during the period. 10.69% of the stock is owned by institutional investors and hedge funds.

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.