Sirius XM (NASDAQ:SIRI) Given “Buy” Rating at Rosenblatt Securities

Sirius XM (NASDAQ:SIRI)‘s stock had its “buy” rating reissued by equities researchers at Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They presently have a $45.00 price objective on the stock. Rosenblatt Securities’ price target points to a potential upside of 44.14% from the stock’s current price.

Several other brokerages have also recently issued reports on SIRI. Evercore set a $28.00 target price on Sirius XM in a report on Friday, May 1st. Weiss Ratings upgraded Sirius XM from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Wells Fargo & Company set a $30.00 price target on shares of Sirius XM and gave the company an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Sirius XM from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, Morgan Stanley raised their price objective on shares of Sirius XM from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.09.

Sirius XM Trading Up 4.8%

SIRI opened at $31.22 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.44 and a quick ratio of 0.44. The company’s 50 day simple moving average is $29.08 and its two-hundred day simple moving average is $25.08. Sirius XM has a 1-year low of $19.76 and a 1-year high of $31.49. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.95.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, April 30th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. Sirius XM had a return on equity of 9.19% and a net margin of 9.86%.The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts expect that Sirius XM will post 3.1 EPS for the current fiscal year.

Insider Activity at Sirius XM

In other news, insider Scott Andrew Greenstein sold 20,744 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.83, for a total value of $618,793.52. Following the transaction, the insider directly owned 20,163 shares in the company, valued at approximately $601,462.29. This represents a 50.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.27% of the company’s stock.

Institutional Trading of Sirius XM

Institutional investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC lifted its stake in Sirius XM by 3.2% during the second quarter. Valeo Financial Advisors LLC now owns 10,916 shares of the company’s stock worth $322,000 after purchasing an additional 340 shares in the last quarter. Altshuler Shaham Ltd grew its stake in shares of Sirius XM by 36.7% in the first quarter. Altshuler Shaham Ltd now owns 1,553 shares of the company’s stock valued at $36,000 after buying an additional 417 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Sirius XM by 36.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,836 shares of the company’s stock valued at $41,000 after buying an additional 493 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Sirius XM by 5.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 9,862 shares of the company’s stock worth $291,000 after acquiring an additional 509 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Sirius XM by 28.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,562 shares of the company’s stock valued at $76,000 after acquiring an additional 560 shares during the period. Institutional investors and hedge funds own 10.69% of the company’s stock.

Sirius XM Company Profile

Sirius XM Holdings Inc is a leading audio entertainment company specializing in subscription-based satellite and streaming radio services. Formed in 2008 through the merger of Sirius Satellite Radio and XM Satellite Radio, the company delivers a broad range of programming across music, sports, news, talk and comedy channels. Sirius XM’s offerings include exclusive live sports play-by-play, artist-curated music channels, news coverage from major networks and original talk and entertainment series.

Headquartered in New York City, Sirius XM serves listeners throughout the United States and Canada, reaching tens of millions of subscribers.