Sirius XM (NASDAQ:SIRI) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Monday. The brokerage issued a hold rating on the stock.

SIRI has been the subject of several other reports. Pivotal Research raised Sirius XM from a hold rating to a buy rating and reduced their price target for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. Benchmark reduced their target price 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 raised shares of Sirius XM from a sell rating to a neutral rating and cut their price objective for the stock from $4.10 to $3.30 in a research report on Wednesday, April 24th. Wells Fargo & Company decreased their target price on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a research report on Monday, April 1st. Finally, Guggenheim initiated coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a neutral rating and a $4.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Sirius XM currently has an average rating of Hold and a consensus target price of $4.67.

Sirius XM Stock Performance

Sirius XM stock opened at $3.17 on Monday. Sirius XM has a fifty-two week low of $2.97 and a fifty-two week high of $7.95. The company has a market capitalization of $12.19 billion, a PE ratio of 9.91, a P/E/G ratio of 1.02 and a beta of 1.04. The company has a 50 day moving average price of $3.82 and a 200-day moving average price of $4.59.

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

Sirius XM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.0266 per share. This represents a $0.11 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is currently 34.38%.

Insider Transactions at Sirius XM

In related 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 value of $527,293.90. Following the completion of the sale, the insider now owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on Tuesday, February 13th. The stock was 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 directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

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