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

StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a report published on Sunday morning. The firm issued a hold rating on the stock.

Several other equities analysts have also weighed in on the stock. Barrington Research reiterated an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a report on Monday, July 15th. The Goldman Sachs Group dropped their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 17th. Benchmark reissued a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, September 18th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $23.00 price target on shares of Sirius XM in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sirius XM has an average rating of “Hold” and a consensus price target of $31.25.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $27.21 on Friday. The business’s 50-day moving average is $27.17 and its 200-day moving average is $29.67. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The company has a market capitalization of $104.67 billion, a price-to-earnings ratio of 82.45, a P/E/G ratio of 0.73 and a beta of 1.07.

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

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.97%. This is an increase from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s payout ratio is presently 321.21%.

Insider Activity

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business’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 of the company’s stock, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of Sirius XM stock in a transaction dated Friday, October 11th. The shares were bought at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the transaction, the insider now directly owns 108,719,088 shares in the company, valued at approximately $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 a total of 2,646,761 shares of company stock valued at $65,952,329 over the last three months. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp bought a new position in shares of Sirius XM in the first quarter worth $2,036,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Sirius XM by 9.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,124,339 shares of the company’s stock valued at $4,325,000 after acquiring an additional 101,713 shares in the last quarter. Bessemer Group Inc. increased its holdings in Sirius XM by 1,205.4% during the 1st quarter. Bessemer Group Inc. now owns 452,570 shares of the company’s stock worth $1,756,000 after acquiring an additional 417,900 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Sirius XM by 1.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 579,793 shares of the company’s stock valued at $2,250,000 after purchasing an additional 6,231 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Sirius XM by 0.7% in 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. 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.