Sirius XM (NASDAQ:SIRI) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Sirius XM (NASDAQ:SIRI) in a report released on Sunday. The brokerage issued a hold rating on the stock.

SIRI has been the subject of several other research reports. Wells Fargo & Company cut their price objective on Sirius XM from $4.50 to $3.00 and set an underweight rating for the company in a report on Monday, April 1st. Citigroup increased their price target on Sirius XM from $3.60 to $4.10 and gave the company a sell rating in a research note on Friday, January 12th. Guggenheim started coverage on Sirius XM in a research note on Thursday, March 14th. They issued a neutral rating and a $4.00 price target on the stock. Finally, Benchmark dropped their price target on Sirius XM from $7.00 to $6.50 and set a buy rating on the stock in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $4.67.

Sirius XM Stock Performance

NASDAQ SIRI opened at $3.16 on Friday. The company has a market cap of $12.15 billion, a PE ratio of 9.88, a PEG ratio of 1.06 and a beta of 1.04. Sirius XM has a 12 month low of $3.04 and a 12 month high of $7.95. The stock has a 50 day moving average of $3.92 and a 200-day moving average of $4.62.

Sirius XM (NASDAQ:SIRI) last released 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 company 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 predict that Sirius XM will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sirius XM news, 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 transaction of $527,293.90. Following the transaction, the insider now owns 746,816 shares in the company, valued at approximately $3,659,398.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 1,091,472 shares in the company, valued at $5,370,042.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s 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 completion of the transaction, the insider now owns 746,816 shares in the company, valued at approximately $3,659,398.40. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Simplicity Wealth LLC bought a new position in shares of Sirius XM in the first quarter worth $84,000. Satovsky Asset Management LLC bought a new stake in Sirius XM in the first quarter worth approximately $40,000. PFG Investments LLC bought a new stake in Sirius XM in the first quarter worth approximately $116,000. IFM Investors Pty Ltd increased its holdings in Sirius XM by 9.3% in the first quarter. IFM Investors Pty Ltd now owns 206,345 shares of the company’s stock worth $801,000 after purchasing an additional 17,512 shares in the last quarter. Finally, Norden Group LLC increased its holdings in Sirius XM by 1,559.4% in the first quarter. Norden Group LLC now owns 242,172 shares of the company’s stock worth $940,000 after purchasing an additional 227,578 shares in 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.