Sirius XM’s (SIRI) “Underperform” Rating Reaffirmed at Bank of America

Bank of America reaffirmed their underperform rating on shares of Sirius XM (NASDAQ:SIRI) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Bank of America currently has a $23.00 price objective on the stock.

A number of other research firms also recently commented on SIRI. Citigroup upped their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft cut their target price on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $43.00 price target on shares of Sirius XM in a research report on Tuesday, October 15th. Finally, StockNews.com initiated coverage on shares of Sirius XM in a research report on Sunday, October 20th. They issued a “hold” rating for the company. Five research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Sirius XM has a consensus rating of “Hold” and a consensus target price of $30.62.

Sirius XM Trading Up 0.2 %

Shares of Sirius XM stock traded up $0.04 on Thursday, hitting $26.57. The stock had a trading volume of 63,648 shares, compared to its average volume of 3,336,014. The stock has a market cap of $102.21 billion, a price-to-earnings ratio of 80.39, a P/E/G ratio of 0.73 and a beta of 1.07. The company’s 50 day moving average price is $27.12 and its 200 day moving average price is $29.65. Sirius XM has a 52-week low of $22.18 and a 52-week high of $57.80.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Analysts predict that Sirius XM will post 3.25 EPS for the current fiscal year.

Sirius XM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $0.27 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 4.06%. Sirius XM’s payout ratio is presently 321.21%.

Insider Activity

In other Sirius XM news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value of $4,573,246.80. Following the sale, the insider now owns 98,933 shares of the company’s stock, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 869,800 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was acquired at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the completion of the transaction, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total value of $4,573,246.80. Following the transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 2,646,761 shares of company stock worth $65,952,329 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SIRI. Coston McIsaac & Partners raised its position in shares of Sirius XM by 113.5% in the 3rd quarter. Coston McIsaac & Partners now owns 1,174 shares of the company’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Trium Capital LLP purchased a new stake in shares of Sirius XM during the third quarter valued at approximately $50,000. Nisa Investment Advisors LLC bought a new position in Sirius XM in the 3rd quarter valued at approximately $51,000. Blue Trust Inc. lifted its holdings in shares of Sirius XM by 113.6% during the third quarter. Blue Trust Inc. now owns 3,644 shares of the company’s stock valued at $86,000 after purchasing an additional 1,938 shares in the last quarter. Finally, Bfsg LLC raised its position in Sirius XM by 35.3% in the 3rd quarter. Bfsg LLC now owns 4,735 shares of the company’s stock worth $112,000 after buying an additional 1,235 shares during the last quarter. 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.