Sirius XM (NASDAQ:SIRI) Coverage Initiated by Analysts at StockNews.com

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

Other analysts also recently issued reports about the company. Guggenheim assumed coverage on Sirius XM in a report on Thursday, March 14th. They set a neutral rating and a $4.00 price objective for the company. Citigroup upgraded Sirius XM from a sell rating to a neutral rating and dropped their price objective for the stock from $4.10 to $3.30 in a report on Wednesday, April 24th. Benchmark dropped their price objective on Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a report on Wednesday, March 27th. Pivotal Research raised shares of Sirius XM from a hold rating to a buy rating and decreased their price target for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. Finally, Rosenblatt Securities decreased their price target on shares of Sirius XM from $4.50 to $3.40 and set a neutral rating for the company in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $4.11.

Sirius XM Price Performance

Shares of SIRI opened at $2.73 on Monday. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 8.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.08. Sirius XM has a 1-year low of $2.45 and a 1-year high of $7.95. The firm has a 50 day simple moving average of $2.88 and a 200-day simple moving average of $4.05.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Tuesday, April 30th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. Sirius XM’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 EPS. On average, equities analysts expect that Sirius XM will post 0.31 earnings per share for the current fiscal year.

Sirius XM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Friday, May 10th were paid a dividend of $0.0266 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.90%. Sirius XM’s dividend payout ratio (DPR) is 30.30%.

Insider Buying and Selling

In related news, Director Kristina Salen sold 12,518 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.60, for a total transaction of $32,546.80. Following the sale, the director now owns 169,309 shares in the company, valued at $440,203.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sirius XM

Several large investors have recently made changes to their positions in the company. GM Advisory Group LLC increased its stake in shares of Sirius XM by 10.0% in the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after purchasing an additional 2,000 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after acquiring an additional 2,139 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Sirius XM by 14.8% in the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after acquiring an additional 2,183 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Gitterman Wealth Management LLC boosted its holdings in shares of Sirius XM by 7.2% in the fourth quarter. Gitterman Wealth Management LLC now owns 38,410 shares of the company’s stock valued at $210,000 after acquiring an additional 2,566 shares in the last quarter. Institutional investors and hedge funds 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.