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

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Monday. The brokerage issued a hold rating on the stock.

A number of other equities analysts have also recently commented on SIRI. Benchmark reiterated a “buy” rating and set a $43.00 price target on shares of Sirius XM in a report on Tuesday, October 15th. JPMorgan Chase & Co. initiated coverage on Sirius XM in a research note on Wednesday, October 9th. They set an “underweight” rating and a $20.00 target price for the company. Rosenblatt Securities increased their price target on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America reiterated an “underperform” rating and issued a $23.00 price objective on shares of Sirius XM in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.62.

Sirius XM Trading Down 2.7 %

Shares of SIRI opened at $26.66 on Monday. The company’s fifty day simple moving average is $26.61 and its 200 day simple moving average is $29.41. Sirius XM has a 1-year low of $22.18 and a 1-year high of $57.80. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.73 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates 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, research analysts forecast that Sirius XM will post 3.25 earnings per share for the current year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s dividend payout ratio (DPR) is currently 32.73%.

Insiders Place Their Bets

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the completion of the sale, the insider now directly owns 98,933 shares in the company, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were purchased at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the transaction, the insider now directly owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,646,761 shares of company stock worth $65,952,329 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Sirius XM

Several large investors have recently made changes to their positions in SIRI. Coston McIsaac & Partners raised its position in Sirius XM by 113.5% during the third quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock valued at $27,000 after purchasing an additional 624 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of Sirius XM by 2,683.7% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,364 shares of the company’s stock valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. Trium Capital LLP bought a new position in shares of Sirius XM in the 3rd quarter valued at $50,000. Nisa Investment Advisors LLC acquired a new position in shares of Sirius XM during the 3rd quarter worth $51,000. Finally, Blue Trust Inc. lifted its position in shares of Sirius XM by 113.6% during the 3rd quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock worth $86,000 after buying an additional 1,938 shares during the last quarter. Institutional investors and hedge funds own 10.69% of the company’s stock.

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.