Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

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

Several other research analysts have also issued reports on SIRI. The Goldman Sachs Group decreased their price target on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a research note on Tuesday, September 17th. Rosenblatt Securities raised their price objective on shares of Sirius XM from $3.40 to $28.00 and gave the stock a neutral rating in a report on Monday, September 16th. Barrington Research reaffirmed an outperform rating and set a $47.50 price target on shares of Sirius XM in a report on Monday, July 15th. Morgan Stanley reaffirmed an underweight rating and issued a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. Finally, Citigroup downgraded Sirius XM from a neutral rating to a sell rating and set a $28.00 price objective on the stock. in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $34.27.

Sirius XM Stock Up 0.1 %

SIRI opened at $24.38 on Thursday. The company’s 50-day moving average price is $30.10 and its two-hundred day moving average price is $31.41. Sirius XM has a twelve month low of $22.73 and a twelve month high of $57.80. The stock has a market cap of $93.78 billion, a price-to-earnings ratio of 73.88, a PEG ratio of 0.83 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. As a group, sell-side analysts anticipate that Sirius XM will post 3.08 earnings per share for the current year.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.266 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.36%. Sirius XM’s payout ratio is presently 321.21%.

Insider Activity at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Institutional investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc grew its holdings 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 worth $220,130,000 after acquiring an additional 30,559,834 shares during the period. Point72 Asset Management L.P. acquired a new stake in Sirius XM in the 2nd quarter valued at $12,858,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Sirius XM during the second quarter valued at about $5,192,000. SG Americas Securities LLC grew its stake in shares of Sirius XM by 516.5% during the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock valued at $6,212,000 after acquiring an additional 1,341,352 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Sirius XM during the second quarter worth about $3,616,000. Institutional investors and hedge funds 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.