Sirius XM (NASDAQ:SIRI) Downgraded by ValuEngine

ValuEngine downgraded shares of Sirius XM (NASDAQ:SIRI) from a buy rating to a hold rating in a research report released on Wednesday morning, ValuEngine reports.

Several other brokerages also recently issued reports on SIRI. Wells Fargo & Co initiated coverage on shares of Sirius XM in a research note on Monday, September 23rd. They issued an outperform rating and a $8.00 target price on the stock. BidaskClub downgraded shares of Sirius XM from a strong-buy rating to a buy rating in a research note on Saturday, September 21st. Credit Suisse Group upgraded shares of Sirius XM from a neutral rating to an outperform rating and set a $7.00 target price on the stock in a research note on Monday, June 10th. Finally, Pivotal Research reiterated a buy rating and issued a $7.70 target price on shares of Sirius XM in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Sirius XM presently has a consensus rating of Buy and an average price target of $7.24.

SIRI traded up $0.03 during midday trading on Wednesday, reaching $6.38. The company’s stock had a trading volume of 13,382,447 shares, compared to its average volume of 18,839,436. The firm has a market capitalization of $28.26 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.53 and a beta of 1.01. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 46.63. Sirius XM has a 1 year low of $5.23 and a 1 year high of $6.51. The stock’s 50-day moving average is $6.22 and its 200-day moving average is $5.92.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Tuesday, July 30th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.93 billion. Sirius XM had a net margin of 15.25% and a negative return on equity of 117.72%. The business’s revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. As a group, equities research analysts forecast that Sirius XM will post 0.21 earnings per share for the current fiscal year.

In related news, insider Jennifer C. Witz sold 504,830 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $6.02, for a total transaction of $3,039,076.60. Following the transaction, the insider now owns 913,904 shares in the company, valued at $5,501,702.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas D. Barry sold 164,715 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $5.99, for a total transaction of $986,642.85. Following the transaction, the vice president now owns 265,735 shares in the company, valued at approximately $1,591,752.65. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of SIRI. Point72 Hong Kong Ltd bought a new position in Sirius XM in the second quarter worth approximately $29,000. Rockefeller Capital Management L.P. increased its stake in shares of Sirius XM by 533.0% in the second quarter. Rockefeller Capital Management L.P. now owns 5,393 shares of the company’s stock worth $30,000 after purchasing an additional 4,541 shares in the last quarter. Coastal Capital Group Inc. purchased a new stake in shares of Sirius XM in the second quarter worth $32,000. Westside Investment Management Inc. purchased a new stake in shares of Sirius XM in the second quarter worth $37,000. Finally, Manchester Financial Inc. purchased a new stake in shares of Sirius XM in the second quarter worth $38,000. Institutional investors own 18.91% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc provides satellite radio services in the United States. The company broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres ranging from rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from principal leagues and colleges; multitude of talk and entertainment channels for various audiences; national, international, and financial news; and limited run channels.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sirius XM (NASDAQ:SIRI)

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