Sirius XM (NASDAQ:SIRI) Given Outperform Rating at Barrington Research

Sirius XM (NASDAQ:SIRI)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $40.00 target price on the stock. Barrington Research’s price target points to a potential upside of 52.91% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $23.00 price objective on shares of Sirius XM in a research report on Tuesday, September 24th. The Goldman Sachs Group dropped their target price on shares of Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, September 17th. Pivotal Research dropped their target price on shares of Sirius XM from $40.00 to $37.00 and set a “buy” rating for the company in a report on Friday. Citigroup increased their target price on shares of Sirius XM from $2.80 to $21.00 and gave the stock a “sell” rating in a report on Thursday, September 26th. Finally, StockNews.com began coverage on shares of Sirius XM in a report on Monday, October 28th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.88.

Sirius XM Price Performance

SIRI traded down $1.49 on Monday, hitting $26.16. 4,327,023 shares of the stock were exchanged, compared to its average volume of 3,459,854. Sirius XM has a 12 month low of $22.18 and a 12 month high of $57.80. The business has a 50-day moving average of $26.52 and a two-hundred day moving average of $29.35. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.37 and a quick ratio of 0.43. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of -4.12, a PEG ratio of 1.32 and a beta of 1.04.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Sirius XM had a negative net margin of 23.02% and a positive return on equity of 68.38%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sell-side analysts forecast that Sirius XM will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Berkshire Hathaway Inc bought 869,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were bought at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the acquisition, the insider now directly owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were acquired at an average cost of $23.55 per share, for a total transaction of $20,483,790.00. Following the purchase, the insider now owns 106,024,829 shares in the company, valued at approximately $2,496,884,722.95. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 98,933 shares in the company, valued at approximately $3,126,282.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 2,646,761 shares of company stock worth $65,952,329 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

Several large investors have recently bought and sold shares of SIRI. Point72 Asset Management L.P. bought a new position in Sirius XM during the 2nd quarter valued at $12,858,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Sirius XM during the 2nd quarter valued at $5,192,000. SG Americas Securities LLC increased its position in shares of Sirius XM by 516.5% during the 1st quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock valued at $6,212,000 after purchasing an additional 1,341,352 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Sirius XM during the 2nd quarter valued at $3,616,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sirius XM during the 2nd quarter valued at $3,238,000. 10.69% of the stock is currently owned by institutional investors.

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.