The Goldman Sachs Group Lowers Sirius XM (NASDAQ:SIRI) Price Target to $23.00

Sirius XM (NASDAQ:SIRI) had its price objective cut by The Goldman Sachs Group from $26.00 to $23.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently weighed in on SIRI. Citigroup boosted their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. Barrington Research reiterated an “outperform” rating and set a $40.00 price objective on shares of Sirius XM in a research report on Monday. Benchmark reiterated a “buy” rating and set a $43.00 price objective on shares of Sirius XM in a research report on Tuesday, October 15th. Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, September 18th. Finally, StockNews.com initiated coverage on shares of Sirius XM in a research note on Monday, October 28th. They set a “hold” rating for the company. Five analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.88.

Sirius XM Trading Down 6.2 %

SIRI stock opened at $25.93 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80. The firm’s fifty day simple moving average is $26.42 and its two-hundred day simple moving average is $29.32.

Sirius XM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.17%. 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 is presently -16.72%.

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 dated 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were purchased at an average price of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the acquisition, the insider now directly owns 106,024,829 shares in the company, valued at $2,496,884,722.95. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sirius XM

Several hedge funds and other institutional investors have recently bought and sold shares of SIRI. Supplemental Annuity Collective Trust of NJ acquired a new stake in shares of Sirius XM during the 3rd quarter worth approximately $347,000. State of New Jersey Common Pension Fund D purchased a new position in Sirius XM in the 3rd quarter valued at $1,707,000. Rocky Mountain Advisers LLC lifted its holdings in Sirius XM by 48,545.9% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 206,745 shares of the company’s stock valued at $4,890,000 after purchasing an additional 206,320 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Sirius XM in the 3rd quarter valued at $318,000. Finally, TCTC Holdings LLC purchased a new position in Sirius XM in the 3rd quarter valued at $29,000. 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.