Brokerages Set Sirius XM Holdings Inc. (NASDAQ:SIRI) PT at $24.44

Sirius XM Holdings Inc. (NASDAQ:SIRI) has been assigned an average rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $24.4444.

SIRI has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Sirius XM from an “underweight” rating to a “neutral” rating and raised their target price for the company from $20.00 to $24.00 in a research report on Tuesday, February 10th. Rosenblatt Securities raised their price objective on shares of Sirius XM from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Barrington Research reiterated an “outperform” rating and issued a $28.00 target price on shares of Sirius XM in a research note on Thursday, February 5th. Moffett Nathanson initiated coverage on shares of Sirius XM in a research report on Tuesday, January 27th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Weiss Ratings lowered shares of Sirius XM from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 6th.

Sirius XM Stock Performance

Shares of SIRI opened at $22.63 on Friday. The stock has a 50 day moving average of $21.01 and a 200 day moving average of $21.74. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.39 and a beta of 0.92. Sirius XM has a 12 month low of $18.69 and a 12 month high of $25.35. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.75.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 11th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Wednesday, February 11th. Sirius XM’s payout ratio is currently 48.21%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Berkshire Hathaway Inc boosted its holdings in shares of Sirius XM by 4.2% in the third quarter. Berkshire Hathaway Inc now owns 124,807,117 shares of the company’s stock worth $2,904,886,000 after acquiring an additional 5,030,425 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Sirius XM by 165.2% in the second quarter. AQR Capital Management LLC now owns 5,191,440 shares of the company’s stock worth $117,327,000 after buying an additional 3,233,922 shares in the last quarter. Norges Bank purchased a new position in Sirius XM during the fourth quarter valued at approximately $57,124,000. Pacer Advisors Inc. purchased a new stake in Sirius XM in the 4th quarter worth approximately $34,548,000. Finally, Bank of New York Mellon Corp boosted its holdings in Sirius XM by 253.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,019,901 shares of the company’s stock valued at $40,388,000 after purchasing an additional 1,449,036 shares during the period. 10.69% of the stock is currently owned by hedge funds and other institutional investors.

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.