Sirius XM (NASDAQ:SIRI) Lowered to “Hold” Rating by Guggenheim

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

A number of other analysts also recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $28.00 price target on shares of Sirius XM in a report on Monday. StockNews.com started coverage on shares of Sirius XM in a research report on Tuesday. They set a “hold” rating for the company. Pivotal Research cut their price objective on Sirius XM from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Benchmark restated a “buy” rating and issued a $43.00 price objective on shares of Sirius XM in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lifted their target price on Sirius XM from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.96.

Sirius XM Stock Performance

Shares of Sirius XM stock traded down $0.24 on Wednesday, reaching $25.88. The stock had a trading volume of 1,668,989 shares, compared to its average volume of 3,501,116. Sirius XM has a fifty-two week low of $22.18 and a fifty-two week high of $57.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.43 and a current ratio of 0.37. The stock has a market cap of $8.78 billion, a P/E ratio of -4.12, a price-to-earnings-growth ratio of 1.32 and a beta of 1.04. The business’s 50-day moving average price is $26.19 and its two-hundred day moving average price is $29.26.

Sirius XM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, November 5th. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. Sirius XM’s dividend payout ratio is -16.72%.

Insider Activity

In related news, major shareholder Berkshire Hathaway Inc bought 1,259,259 shares of Sirius XM stock in a transaction that occurred on Friday, October 11th. The shares were purchased at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the purchase, the insider now owns 108,719,088 shares in the company, valued at $2,712,541,245.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired 2,646,761 shares of company stock valued at $65,952,329 in the last three months. 0.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sirius XM

A number of large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings in Sirius XM by 239.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 181,072 shares of the company’s stock worth $703,000 after buying an additional 127,689 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Sirius XM by 152.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 20,460 shares of the company’s stock valued at $79,000 after purchasing an additional 12,358 shares during the period. Empowered Funds LLC bought a new position in Sirius XM during the 1st quarter valued at about $48,000. SG Americas Securities LLC grew its holdings in shares of Sirius XM by 516.5% during the first quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after purchasing an additional 1,341,352 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Sirius XM by 25.8% in the 1st quarter. ProShare Advisors LLC now owns 3,747,881 shares of the company’s stock worth $14,542,000 after purchasing an additional 768,570 shares during the last quarter. Institutional investors 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.