Sirius XM Holdings Inc. (NASDAQ:SIRI) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) have been assigned an average recommendation of “Reduce” from the ten research firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.74.

SIRI has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Sirius XM in a report on Sunday. They issued a “hold” rating for the company. Wells Fargo & Company decreased their price objective on shares of Sirius XM from $4.50 to $3.00 and set an “underweight” rating for the company in a report on Monday, April 1st. Benchmark decreased their price objective on shares of Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a report on Wednesday, March 27th. Citigroup boosted their price objective on shares of Sirius XM from $3.60 to $4.10 and gave the stock a “sell” rating in a report on Friday, January 12th. Finally, Guggenheim initiated coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a “neutral” rating and a $4.00 price objective for the company.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the sale, the director now owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC purchased a new stake in shares of Sirius XM during the 3rd quarter valued at about $27,000. BKM Wealth Management LLC purchased a new stake in Sirius XM in the 4th quarter worth about $27,000. First PREMIER Bank purchased a new stake in Sirius XM in the 1st quarter worth about $31,000. First United Bank & Trust purchased a new stake in Sirius XM in the 4th quarter worth about $37,000. Finally, TFO Wealth Partners LLC raised its position in Sirius XM by 140,560.0% in the 4th quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after purchasing an additional 7,028 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

Sirius XM Stock Performance

SIRI stock opened at $3.13 on Tuesday. The firm has a 50 day moving average price of $3.99 and a 200-day moving average price of $4.64. Sirius XM has a 52-week low of $3.04 and a 52-week high of $7.95. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 1.05 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. As a group, sell-side analysts forecast that Sirius XM will post 0.29 earnings per share for the current fiscal year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Thursday, February 8th. Sirius XM’s dividend payout ratio (DPR) is presently 34.38%.

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.