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

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

A number of other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sirius XM from $37.50 to $30.00 and set a hold rating for the company in a research report on Tuesday, August 6th. Guggenheim upgraded shares of Sirius XM from a neutral rating to a buy rating and set a $30.00 price target for the company in a research report on Wednesday, September 18th. Benchmark dropped their price target on shares of Sirius XM from $65.00 to $43.00 and set a buy rating for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. began coverage on shares of Sirius XM in a research report on Wednesday, October 9th. They set an underweight rating and a $20.00 price target for the company. Finally, Rosenblatt Securities lifted their price target on shares of Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sirius XM presently has an average rating of Hold and an average target price of $31.25.

Sirius XM Trading Up 7.9 %

Sirius XM stock opened at $26.90 on Friday. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The stock has a market cap of $103.47 billion, a P/E ratio of 81.52, a PEG ratio of 0.73 and a beta of 1.07. The company has a 50-day moving average price of $27.59 and a 200 day moving average price of $30.07.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. As a group, analysts forecast that Sirius XM will post 3.25 EPS for the current year.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.266 per share. This represents a $1.06 annualized dividend and a yield of 3.96%. 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. Sirius XM’s payout ratio is 321.21%.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the sale, the insider now directly owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of Sirius XM stock in a transaction dated Friday, October 11th. The stock was acquired at an average price of $24.95 per share, for a total transaction of $31,418,512.05. Following the transaction, the insider now owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Trium Capital LLP acquired a new position in shares of Sirius XM in the 3rd quarter valued at $50,000. V Square Quantitative Management LLC boosted its holdings in shares of Sirius XM by 66.6% in the 4th quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after buying an additional 3,194 shares in the last quarter. Bard Financial Services Inc. boosted its holdings in shares of Sirius XM by 41.3% in the 2nd quarter. Bard Financial Services Inc. now owns 17,100 shares of the company’s stock valued at $48,000 after buying an additional 5,000 shares in the last quarter. Pitcairn Co. boosted its holdings in shares of Sirius XM by 33.7% in the first quarter. Pitcairn Co. now owns 19,994 shares of the company’s stock valued at $78,000 after acquiring an additional 5,043 shares during the period. Finally, Cambridge Advisors Inc. grew its position in shares of Sirius XM by 18.0% during the second quarter. Cambridge Advisors Inc. now owns 34,800 shares of the company’s stock worth $98,000 after acquiring an additional 5,316 shares during the last quarter. 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.