Sirius XM (NASDAQ:SIRI) PT Lowered to $3.40

Sirius XM (NASDAQ:SIRI) had its price target cut by Rosenblatt Securities from $4.50 to $3.40 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

SIRI has been the topic of a number of other reports. Barrington Research restated an outperform rating and set a $5.75 price target on shares of Sirius XM in a research report on Tuesday, April 30th. Wells Fargo & Company cut their target price 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. The Goldman Sachs Group upgraded Sirius XM from a sell rating to a neutral rating and lowered their price target for the company from $3.50 to $3.25 in a research report on Wednesday. Guggenheim started coverage on Sirius XM in a report on Thursday, March 14th. They issued a neutral rating and a $4.00 price objective for the company. Finally, StockNews.com initiated coverage on Sirius XM in a report on Monday, April 29th. They set a hold rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $4.42.

Sirius XM Stock Performance

Shares of NASDAQ:SIRI opened at $3.12 on Wednesday. The business’s 50-day simple moving average is $3.69 and its 200 day simple moving average is $4.54. The company has a market cap of $12.00 billion, a P/E ratio of 9.45, a PEG ratio of 1.02 and a beta of 1.10. Sirius XM has a one year low of $2.92 and a one year high of $7.95.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Analysts predict that Sirius XM will post 0.3 earnings per share for the current year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a $0.0266 dividend. This represents a $0.11 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s payout ratio is 33.33%.

Insider Buying and Selling

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The stock was 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 of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sirius XM 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sirius XM

A number of institutional investors have recently modified their holdings of SIRI. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Sirius XM by 152.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,460 shares of the company’s stock valued at $79,000 after buying an additional 12,358 shares in the last quarter. Graypoint LLC bought a new stake in Sirius XM during the 1st quarter worth $39,000. Janney Montgomery Scott LLC increased its holdings in Sirius XM by 239.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock worth $703,000 after purchasing an additional 127,689 shares in the last quarter. Source Financial Advisors LLC raised its position in Sirius XM by 350.8% in the first quarter. Source Financial Advisors LLC now owns 170,215 shares of the company’s stock valued at $660,000 after purchasing an additional 132,455 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new stake in shares of Sirius XM during the first quarter valued at about $2,036,000. 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.