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

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

A number of other equities analysts have also commented on the company. Pivotal Research upgraded Sirius XM from a hold rating to a buy rating and lowered their price objective for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Wells Fargo & Company lowered their price objective on Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a research note on Monday, April 1st. Benchmark lowered their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research note on Wednesday, March 27th. Guggenheim initiated coverage on Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 price objective on the stock. Finally, Citigroup upgraded Sirius XM from a sell rating to a neutral rating and lowered their price objective for the stock from $4.10 to $3.30 in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $4.42.

Sirius XM Trading Up 3.7 %

Shares of NASDAQ SIRI opened at $3.05 on Monday. The firm has a market cap of $11.73 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.04. Sirius XM has a 1-year low of $2.92 and a 1-year high of $7.95. The business’s 50 day moving average is $3.75 and its 200-day moving average is $4.57.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $0.06 EPS. The company’s revenue was up .8% on a year-over-year basis. Analysts forecast that Sirius XM will post 0.29 EPS for the current year.

Sirius XM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be issued a dividend of $0.0266 per share. This represents a $0.11 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is 34.38%.

Insider Activity at Sirius XM

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Northern Trust Corp raised its position in Sirius XM by 18.7% during the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after purchasing an additional 1,776,700 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Sirius XM during the 4th quarter worth $1,669,000. O Shaughnessy Asset Management LLC raised its position in Sirius XM by 16.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after purchasing an additional 3,495 shares during the last quarter. TIAA Trust National Association raised its position in shares of Sirius XM by 92.9% in the 4th quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock worth $218,000 after acquiring an additional 19,161 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Sirius XM in the 3rd quarter worth about $2,110,000. 10.69% of the stock is owned by institutional investors.

About Sirius XM

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.