Sirius XM (NASDAQ:SIRI) Lifted to Buy at Pivotal Research

Pivotal Research upgraded shares of Sirius XM (NASDAQ:SIRI) from a hold rating to a buy rating in a report published on Wednesday, MarketBeat.com reports. They currently have $4.90 price target on the stock, down from their prior price target of $5.05.

Other analysts also recently issued reports about the stock. Benchmark dropped their price target on shares of 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 initiated coverage on shares of Sirius XM in a research note on Thursday, March 14th. They issued a neutral rating and a $4.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a research note on Monday, April 1st. StockNews.com initiated coverage on shares of Sirius XM in a research note on Sunday, April 21st. They issued a hold rating on the stock. Finally, Citigroup raised shares of Sirius XM from a sell rating to a neutral rating and lowered their price objective for the stock from $4.10 to $3.30 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sirius XM currently has an average rating of Hold and an average target price of $4.67.

Sirius XM Stock Performance

SIRI stock opened at $3.02 on Wednesday. Sirius XM has a 52 week low of $2.97 and a 52 week high of $7.95. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04. The firm’s 50-day moving average is $3.85 and its two-hundred day moving average is $4.60.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, equities research analysts predict that Sirius XM will post 0.29 earnings per share for the current year.

Sirius XM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be given a $0.0266 dividend. This represents a $0.11 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Thursday, May 9th. Sirius XM’s dividend payout ratio (DPR) is currently 34.38%.

Insider Transactions at Sirius XM

In other news, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares of the company’s stock, valued at $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Joseph A. Inzerillo sold 107,611 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total transaction of $527,293.90. Following the transaction, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Meyer sold 800,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $4.92, for a total transaction of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GM Advisory Group LLC grew its position in Sirius XM by 10.0% during the fourth quarter. GM Advisory Group LLC now owns 22,003 shares of the company’s stock valued at $120,000 after purchasing an additional 2,000 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Sirius XM by 20.5% in the fourth quarter. Lindbrook Capital LLC now owns 12,559 shares of the company’s stock valued at $69,000 after acquiring an additional 2,139 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Sirius XM by 14.8% in the fourth quarter. D.A. Davidson & CO. now owns 16,949 shares of the company’s stock valued at $93,000 after acquiring an additional 2,183 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in Sirius XM by 0.6% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 388,200 shares of the company’s stock valued at $2,123,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC lifted its stake in Sirius XM by 9.6% in the third quarter. Fi3 FINANCIAL ADVISORS LLC now owns 27,518 shares of the company’s stock valued at $124,000 after acquiring an additional 2,420 shares during the last quarter. 10.69% of the stock is owned by hedge funds and other 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.