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

by · The Cerbat Gem

Equities researchers at StockNews.com initiated coverage on shares of Sirius XM (NASDAQ:SIRI – Get Free Report) in a report released on Friday. The brokerage set a “hold” rating on the stock.

Several other brokerages have also recently commented on SIRI. Rosenblatt Securities boosted their target price on shares of Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday, September 16th. Evercore ISI upgraded shares of Sirius XM from an “underperform” rating to an “in-line” rating and lowered their price objective for the company from $42.50 to $32.50 in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft decreased their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Citigroup upped their price objective on Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group decreased their target price on Sirius XM from $32.50 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sirius XM currently has an average rating of “Hold” and an average price target of $34.27.

View Our Latest Stock Report on Sirius XM

Sirius XM Trading Down 1.9 %

Shares of SIRI stock opened at $22.73 on Friday. The stock has a market cap of $87.43 billion, a P/E ratio of 68.88, a price-to-earnings-growth ratio of 0.83 and a beta of 1.07. Sirius XM has a 1 year low of $22.50 and a 1 year high of $57.80. The stock has a 50 day simple moving average of $28.63 and a 200 day simple moving average of $30.74.

Sirius XM (NASDAQ:SIRI – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share 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 during the quarter, compared to the consensus estimate of $2.20 billion. Analysts forecast that Sirius XM will post 3.08 EPS for the current year.

Insider Buying and Selling

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the completion of the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new stake in shares of Sirius XM during the first quarter worth $2,036,000. Morningstar Investment Services LLC bought a new position in shares of Sirius XM in the 4th quarter worth about $85,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Sirius XM by 9.9% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,124,339 shares of the company’s stock valued at $4,325,000 after purchasing an additional 101,713 shares during the period. Bessemer Group Inc. boosted its position in shares of Sirius XM by 1,205.4% during the 1st quarter. Bessemer Group Inc. now owns 452,570 shares of the company’s stock valued at $1,756,000 after purchasing an additional 417,900 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Sirius XM by 1.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 579,793 shares of the company’s stock worth $2,250,000 after purchasing an additional 6,231 shares during the period. Institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

(Get Free Report)

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.

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