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

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report released on Saturday. The firm issued a hold rating on the stock.

A number of other brokerages also recently weighed in on SIRI. Benchmark reduced their price target 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 their price objective on shares of Sirius XM from $3.60 to $4.10 and gave the company a sell rating in a research report on Friday, January 12th. Wells Fargo & Company lowered their price target 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 started coverage on shares of Sirius XM in a research report on Thursday, March 14th. They set a neutral rating and a $4.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $4.74.

Sirius XM Stock Down 0.9 %

Shares of NASDAQ:SIRI opened at $3.18 on Friday. Sirius XM has a fifty-two week low of $3.15 and a fifty-two week high of $7.95. The company has a market cap of $12.23 billion, a PE ratio of 9.94, a P/E/G ratio of 1.09 and a beta of 1.04. The firm has a 50-day simple moving average of $4.18 and a 200 day simple moving average of $4.68.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. As a group, research analysts forecast that Sirius XM will post 0.29 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were issued a dividend of $0.0266 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.11 annualized dividend and a yield of 3.35%. Sirius XM’s payout ratio is 34.38%.

Insiders Place Their Bets

In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction on 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 in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Sirius XM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC purchased a new stake in shares of Sirius XM during the 3rd quarter valued at $27,000. BKM Wealth Management LLC purchased a new position in Sirius XM in the 4th quarter worth $27,000. Hibernia Wealth Partners LLC purchased a new position in shares of Sirius XM in the third quarter valued at about $30,000. First PREMIER Bank purchased a new position in shares of Sirius XM in the first quarter valued at about $31,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Sirius XM in the third quarter valued at about $34,000. 10.69% of the stock is owned by hedge funds and other institutional investors.

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.