StockNews.com Begins Coverage on Sirius XM (NASDAQ:SIRI)

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

Several other equities analysts have also recently issued reports on SIRI. Wells Fargo & Company dropped their target price on Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a research report on Monday, April 1st. Benchmark dropped their target price on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research report on Wednesday, March 27th. Guggenheim began coverage on Sirius XM in a research report on Thursday, March 14th. They set a neutral rating and a $4.00 target price on the stock. Finally, Citigroup boosted their target price on Sirius XM from $3.60 to $4.10 and gave the stock a sell rating in a research report on Friday, January 12th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $4.74.

Sirius XM Stock Down 0.9 %

SIRI opened at $3.15 on Friday. The business has a 50 day moving average price of $4.14 and a two-hundred day moving average price of $4.67. The company has a market cap of $12.12 billion, a PE ratio of 9.84, a P/E/G ratio of 1.09 and a beta of 1.04. Sirius XM has a 52 week low of $3.11 and a 52 week high of $7.95.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. As a group, sell-side analysts expect that Sirius XM will post 0.29 EPS for the current fiscal year.

Sirius XM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.0266 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Thursday, February 8th. Sirius XM’s payout ratio is currently 31.25%.

Insider Activity at Sirius XM

In related news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now owns 746,816 shares of the company’s stock, valued at approximately $3,659,398.40. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director James E. Meyer sold 800,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was 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 approximately $5,370,042.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the stock in a transaction on 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 directly owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Northern Trust Corp lifted its stake in shares of Sirius XM by 18.7% during the 3rd quarter. Northern Trust Corp now owns 11,256,094 shares of the company’s stock worth $50,878,000 after purchasing an additional 1,776,700 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Sirius XM by 16.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 24,392 shares of the company’s stock worth $110,000 after buying an additional 3,495 shares during the period. TIAA Trust National Association raised its position in shares of Sirius XM by 92.9% in the 4th quarter. TIAA Trust National Association now owns 39,783 shares of the company’s stock worth $218,000 after buying an additional 19,161 shares during the period. ING Groep NV purchased a new position in shares of Sirius XM in the 3rd quarter worth $2,110,000. Finally, Pacer Advisors Inc. raised its position in shares of Sirius XM by 8.7% in the 4th quarter. Pacer Advisors Inc. now owns 172,322 shares of the company’s stock worth $943,000 after buying an additional 13,797 shares during the period. Hedge funds and other 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.