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

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a report published on Monday morning. The brokerage issued a hold rating on the stock.

A number of other equities analysts have also commented on SIRI. Citigroup upgraded shares of Sirius XM from a sell rating to a neutral rating and cut their price objective for the company from $4.10 to $3.30 in a research report on Wednesday, April 24th. Benchmark cut their price target on shares of Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a report on Wednesday, March 27th. Wells Fargo & Company decreased their price target 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. Guggenheim began coverage on Sirius XM in a research note on Thursday, March 14th. They set a neutral rating and a $4.00 price objective for the company. Finally, Pivotal Research upgraded Sirius XM from a hold rating to a buy rating and decreased their target price for the stock from $5.05 to $4.90 in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Sirius XM has an average rating of Hold and an average target price of $4.67.

Sirius XM Trading Up 5.0 %

Sirius XM stock opened at $3.17 on Monday. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.02 and a beta of 1.04. The firm has a 50 day simple moving average of $3.82 and a 200 day simple moving average of $4.59. Sirius XM has a 1-year low of $2.97 and a 1-year high of $7.95.

Sirius XM (NASDAQ:SIRI) last announced its quarterly 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. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.30 billion. On average, equities research analysts forecast that Sirius XM will post 0.29 EPS for the current year.

Sirius XM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a $0.0266 dividend. This represents a $0.11 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio is currently 34.38%.

Insider Buying and Selling at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the transaction, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James E. Meyer sold 800,000 shares of the stock in a transaction dated 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 sale, the director now 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. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several hedge funds and other institutional investors have recently bought and sold shares of SIRI. Commonwealth Equity Services LLC increased its stake in shares of Sirius XM by 6.1% in the first quarter. Commonwealth Equity Services LLC now owns 787,856 shares of the company’s stock worth $3,057,000 after buying an additional 45,483 shares during the period. Principal Financial Group Inc. increased its position in shares of Sirius XM by 32.9% in the first quarter. Principal Financial Group Inc. now owns 54,026 shares of the company’s stock valued at $210,000 after acquiring an additional 13,364 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Sirius XM by 125.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,332 shares of the company’s stock valued at $67,000 after acquiring an additional 9,631 shares during the last quarter. Foster Victor Wealth Advisors LLC purchased a new stake in shares of Sirius XM during the first quarter worth about $55,000. Finally, Prairiewood Capital LLC bought a new stake in shares of Sirius XM in the first quarter worth about $47,000. 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.