StockNews.com Initiates Coverage on Sirius XM (NASDAQ:SIRI)

Stock analysts at StockNews.com began coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Wednesday. The firm set a “sell” rating on the stock.

A number of other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Bank of America reaffirmed an “underperform” rating and set a $23.00 target price on shares of Sirius XM in a research note on Thursday, October 24th. Citigroup increased their target price on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. boosted their price target on shares of Sirius XM from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Pivotal Research cut their price objective on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.96.

Sirius XM Trading Down 1.0 %

Shares of Sirius XM stock opened at $27.16 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80. The firm has a market capitalization of $9.21 billion, a PE ratio of -4.28 and a beta of 1.04. The firm’s 50-day moving average price is $25.82 and its 200 day moving average price is $29.15.

Insider Buying and Selling

In related news, major shareholder Berkshire Hathaway Inc bought 175,569 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were bought at an average price of $27.43 per share, with a total value of $4,815,857.67. Following the completion of the transaction, the insider now directly owns 110,276,790 shares of the company’s stock, valued at $3,024,892,349.70. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders acquired 2,646,761 shares of company stock valued at $65,952,329. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sirius XM

Several institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC grew its position in Sirius XM by 139.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,187 shares of the company’s stock valued at $75,000 after acquiring an additional 1,858 shares in the last quarter. Algert Global LLC purchased a new position in shares of Sirius XM in the third quarter valued at approximately $1,329,000. Cerity Partners LLC boosted its stake in shares of Sirius XM by 11.1% in the third quarter. Cerity Partners LLC now owns 23,458 shares of the company’s stock valued at $555,000 after purchasing an additional 2,340 shares during the period. Sessa Capital IM L.P. purchased a new stake in Sirius XM during the 3rd quarter worth approximately $77,983,000. Finally, Integrated Investment Consultants LLC purchased a new stake in Sirius XM during the 3rd quarter worth approximately $320,000. 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.