Sirius XM (NASDAQ:SIRI) Now Covered by Analysts at StockNews.com

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

Several other analysts also recently commented on the stock. Benchmark dropped their target price on shares of Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a report on Wednesday, March 27th. Wells Fargo & Company dropped their target price on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a report on Monday, April 1st. Citigroup raised their target price on shares of Sirius XM from $3.60 to $4.10 and gave the stock a sell rating in a report on Friday, January 12th. Finally, Guggenheim started coverage on shares of Sirius XM in a report on Thursday, March 14th. They set a neutral rating and a $4.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $4.74.

Sirius XM Price Performance

Shares of NASDAQ:SIRI opened at $3.09 on Friday. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 1.05 and a beta of 1.04. The firm’s 50 day simple moving average is $4.03 and its 200 day simple moving average is $4.65. Sirius XM has a fifty-two week low of $3.04 and a fifty-two week high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. Equities research analysts expect that Sirius XM will post 0.29 earnings per share for the current year.

Sirius XM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.0266 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.11 annualized dividend and a dividend yield of 3.44%. Sirius XM’s dividend payout ratio is currently 31.25%.

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 shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the completion of 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 owned by company insiders.

Hedge Funds Weigh In On Sirius XM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Sirius XM in the third quarter valued at $27,000. BKM Wealth Management LLC acquired a new stake in Sirius XM during the 4th quarter valued at $27,000. First PREMIER Bank acquired a new stake in Sirius XM during the 1st quarter valued at $31,000. Comerica Bank acquired a new stake in Sirius XM during the 3rd quarter valued at $35,000. Finally, First United Bank & Trust acquired a new stake in Sirius XM during the 4th quarter valued at $37,000. 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.