Sirius XM (NASDAQ:SIRI) Stock Rating Upgraded by Pivotal Research

Pivotal Research upgraded shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports. Pivotal Research currently has $4.90 target price on the stock, down from their prior target price of $5.05.

Other analysts have also issued research reports about the stock. StockNews.com started coverage on shares of Sirius XM in a research report on Sunday, April 21st. They issued a hold rating on the stock. Guggenheim started coverage on Sirius XM in a report on Thursday, March 14th. They issued a neutral rating and a $4.00 price objective on the stock. Citigroup raised Sirius XM from a sell rating to a neutral rating and reduced their target price for the company from $4.10 to $3.30 in a report on Wednesday. Wells Fargo & Company dropped their price target on 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, Benchmark reduced their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Sirius XM currently has a consensus rating of Hold and an average price target of $4.67.

Sirius XM Stock Performance

Shares of SIRI stock opened at $3.02 on Wednesday. Sirius XM has a 12-month low of $2.97 and a 12-month high of $7.95. The business’s 50 day moving average is $3.85 and its two-hundred day moving average is $4.60. The company has a market capitalization of $11.62 billion, a P/E ratio of 9.44, a P/E/G ratio of 1.02 and a beta of 1.04.

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

Sirius XM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a dividend of $0.0266 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.11 annualized dividend and a dividend yield of 3.52%. Sirius XM’s payout ratio is 34.38%.

Insider Buying and Selling

In other news, Director James E. Meyer sold 800,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now owns 1,091,472 shares of the company’s stock, valued at approximately $5,370,042.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction that occurred on Friday, February 9th. The shares were 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 approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by company insiders.

Institutional Trading of Sirius XM

Several institutional investors have recently made changes to their positions in SIRI. Berkshire Hathaway Inc raised its position in shares of Sirius XM by 315.6% during the 4th quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after buying an additional 30,559,834 shares during the period. AQR Capital Management LLC raised its position in Sirius XM by 482.9% in the third quarter. AQR Capital Management LLC now owns 14,641,104 shares of the company’s stock valued at $66,178,000 after purchasing an additional 12,129,166 shares during the period. New York State Common Retirement Fund raised its position in Sirius XM by 169.6% in the third quarter. New York State Common Retirement Fund now owns 10,303,486 shares of the company’s stock valued at $46,572,000 after purchasing an additional 6,482,109 shares during the period. Cadian Capital Management LP purchased a new stake in Sirius XM in the third quarter valued at approximately $8,929,000. Finally, Northern Trust Corp raised its position in Sirius XM by 18.7% in the third quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock valued at $50,878,000 after purchasing an additional 1,776,700 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.