Sirius XM Holdings Inc. (NASDAQ:SIRI) Given Average Rating of “Hold” by Brokerages

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $31.25.

A number of research analysts have issued reports on SIRI shares. Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and decreased their target price for the company from $42.50 to $32.50 in a research report on Monday, June 24th. StockNews.com began coverage on Sirius XM in a report on Sunday. They set a “hold” rating on the stock. Morgan Stanley restated an “underweight” rating and set a $23.00 price target on shares of Sirius XM in a report on Tuesday, September 24th. Barrington Research restated an “outperform” rating and set a $47.50 price target on shares of Sirius XM in a report on Monday, July 15th. Finally, The Goldman Sachs Group reduced their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average cost of $23.55 per share, with a total value of $20,483,790.00. Following the completion of the purchase, the insider now owns 106,024,829 shares in the company, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of the business’s 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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders have purchased a total of 2,646,761 shares of company stock valued at $65,952,329 over the last ninety days. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Several institutional investors have recently added to or reduced their stakes in SIRI. V Square Quantitative Management LLC lifted its stake in Sirius XM by 66.6% in the fourth 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 during the period. Vanguard Group Inc. raised its position in shares of Sirius XM by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock worth $299,111,000 after purchasing an additional 363,551 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Sirius XM during the fourth quarter worth approximately $77,000. HighPoint Advisor Group LLC acquired a new position in shares of Sirius XM during the fourth quarter worth approximately $93,000. Finally, Moulton Wealth Management Inc. acquired a new position in shares of Sirius XM during the first quarter worth approximately $40,000. 10.69% of the stock is owned by institutional investors and hedge funds.

Sirius XM Stock Up 1.9 %

Sirius XM stock opened at $27.61 on Tuesday. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The business’s 50-day moving average price is $27.27 and its two-hundred day moving average price is $29.82. The stock has a market cap of $106.21 billion, a PE ratio of 83.67, a P/E/G ratio of 0.73 and a beta of 1.07.

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

Sirius XM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.266 dividend. This is a positive change 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 3.85%. The ex-dividend date of this dividend was Friday, August 9th. Sirius XM’s payout ratio is currently 321.21%.

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.