Sirius XM (NASDAQ:SIRI) Upgraded at Moffett Nathanson

Sirius XM (NASDAQ:SIRI) was upgraded by stock analysts at Moffett Nathanson to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on SIRI. Weiss Ratings reissued a “hold (c-)” rating on shares of Sirius XM in a research report on Monday, December 29th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $23.00 price target on shares of Sirius XM in a research note on Monday, December 1st. JPMorgan Chase & Co. upped their price objective on shares of Sirius XM from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Barrington Research reissued an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a report on Monday, November 3rd. Finally, Benchmark reiterated a “buy” rating and set a $30.00 price target (up previously from $28.00) on shares of Sirius XM in a research report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.88.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $20.21 on Tuesday. The firm has a market cap of $6.80 billion, a P/E ratio of 7.14, a price-to-earnings-growth ratio of 0.28 and a beta of 0.93. The business’s 50 day moving average is $20.95 and its 200-day moving average is $21.99. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.78. Sirius XM has a 1-year low of $18.69 and a 1-year high of $27.41.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. Sirius XM had a return on equity of 8.79% and a net margin of 11.61%.The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business earned ($8.74) EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities research analysts predict that Sirius XM will post 3.2 earnings per share for the current year.

Insider Transactions at Sirius XM

In related news, Director Kristina Salen sold 1,845 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $21.64, for a total value of $39,925.80. Following the completion of the transaction, the director owned 19,969 shares of the company’s stock, valued at $432,129.16. This represents a 8.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sirius XM

Hedge funds and other institutional investors have recently bought and sold shares of the company. Berkshire Hathaway Inc grew its holdings in shares of Sirius XM by 4.2% during the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after purchasing an additional 5,030,425 shares during the last quarter. AQR Capital Management LLC increased its position in Sirius XM by 165.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock valued at $117,327,000 after acquiring an additional 3,233,922 shares during the period. Norges Bank bought a new position in shares of Sirius XM during the second quarter valued at $43,152,000. Two Sigma Investments LP lifted its holdings in shares of Sirius XM by 270.0% during the third quarter. Two Sigma Investments LP now owns 1,933,521 shares of the company’s stock worth $45,003,000 after purchasing an additional 1,410,963 shares during the period. Finally, Check Capital Management Inc. CA grew its stake in shares of Sirius XM by 76.7% in the third quarter. Check Capital Management Inc. CA now owns 2,061,843 shares of the company’s stock worth $47,989,000 after purchasing an additional 895,247 shares during the last quarter. Institutional investors own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.