Sirius XM (NASDAQ:SIRI) Upgraded by Citigroup to “Neutral”

Citigroup upgraded shares of Sirius XM (NASDAQ:SIRI) from a sell rating to a neutral rating in a research note published on Wednesday, Marketbeat reports. They currently have $3.30 price target on the stock, down from their prior price target of $4.10.

Several other brokerages also recently weighed in on SIRI. StockNews.com assumed coverage on shares of Sirius XM in a research note on Sunday. They issued a hold rating for the company. Guggenheim started coverage on shares of Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 price objective on the stock. Benchmark reduced their price objective on shares of Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Sirius XM currently has a consensus rating of Hold and an average target price of $4.67.

Sirius XM Stock Performance

Shares of SIRI stock opened at $3.16 on Wednesday. The company has a market capitalization of $12.15 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.04. The firm has a fifty day simple moving average of $3.92 and a 200-day simple moving average of $4.62. Sirius XM has a twelve month low of $3.04 and a twelve month high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its earnings results on Thursday, February 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $2.29 billion during 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 predict that Sirius XM will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other Sirius XM news, Director James E. Meyer sold 800,000 shares of the 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 sale, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction dated Tuesday, February 13th. The shares were 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 filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated 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 directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Sirius XM

A number of large investors have recently modified their holdings of the company. GM Advisory Group LLC increased its holdings in shares of Sirius XM by 10.0% in the 4th quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock worth $120,000 after acquiring an additional 2,000 shares during the period. Lindbrook Capital LLC grew its position in Sirius XM by 20.5% in the 4th quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after buying an additional 2,139 shares in the last quarter. D.A. Davidson & CO. grew its position in Sirius XM by 14.8% in the 4th quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after buying an additional 2,183 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its position in Sirius XM by 0.6% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after buying an additional 2,300 shares in the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC grew its position in Sirius XM by 9.6% in the 3rd quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock valued at $124,000 after buying an additional 2,420 shares in the last quarter. Institutional investors and hedge funds 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.