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

Equities research analysts at StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Thursday. The firm set a “hold” rating on the stock.

SIRI has been the subject of several other reports. Benchmark decreased their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Pivotal Research raised shares of 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 report on Wednesday, April 24th. The Goldman Sachs Group raised shares of Sirius XM from a “sell” rating to a “neutral” rating and reduced their target price for the company from $3.50 to $3.25 in a research report on Wednesday, May 1st. Guggenheim initiated coverage on shares of Sirius XM in a report on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target on the stock. Finally, Barrington Research reissued an “outperform” rating and set a $5.75 price objective on shares of Sirius XM in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.42.

Sirius XM Stock Up 0.7 %

NASDAQ:SIRI opened at $2.75 on Thursday. Sirius XM has a twelve month low of $2.70 and a twelve month high of $7.95. The company has a fifty day moving average of $3.31 and a 200-day moving average of $4.39. The firm has a market capitalization of $10.58 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.91 and a beta of 1.10.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a negative return on equity of 47.17% and a net margin of 14.38%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. On average, analysts anticipate that Sirius XM will post 0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Sirius XM

A number of institutional investors and hedge funds have recently made changes to their positions in SIRI. Wealthfront Advisers LLC bought a new stake in shares of Sirius XM during the 3rd quarter valued at $63,000. Principal Financial Group Inc. increased its position in Sirius XM by 6.0% in the third quarter. Principal Financial Group Inc. now owns 72,079 shares of the company’s stock worth $326,000 after buying an additional 4,086 shares in the last quarter. MGO One Seven LLC raised its stake in shares of Sirius XM by 91.4% in the third quarter. MGO One Seven LLC now owns 21,062 shares of the company’s stock worth $95,000 after buying an additional 10,057 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Sirius XM by 7.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 290,202 shares of the company’s stock valued at $1,312,000 after buying an additional 19,786 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its position in shares of Sirius XM by 23.7% during the 3rd quarter. Achmea Investment Management B.V. now owns 132,031 shares of the company’s stock valued at $597,000 after buying an additional 25,315 shares in the last quarter. Hedge funds and other institutional investors own 10.69% of the company’s stock.

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.