Sirius XM Holdings Inc. (NASDAQ:SIRI) Given Average Recommendation of “Hold” by Analysts

Sirius XM Holdings Inc. (NASDAQ:SIRI) has earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $36.91.

Several equities analysts recently weighed in on SIRI shares. Guggenheim raised shares of Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday. Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and cut their price target for the company from $42.50 to $32.50 in a report on Monday, June 24th. Citigroup cut Sirius XM from a “neutral” rating to a “sell” rating and set a $28.00 price objective on the stock. in a report on Thursday, July 25th. StockNews.com initiated coverage on shares of Sirius XM in a research note on Wednesday. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th.

Sirius XM Stock Up 3.2 %

NASDAQ:SIRI opened at $24.02 on Friday. The stock has a market cap of $92.40 billion, a PE ratio of 72.79, a P/E/G ratio of 0.90 and a beta of 1.08. The business’s 50-day simple moving average is $31.58 and its two-hundred day simple moving average is $32.13. Sirius XM has a 52 week low of $22.73 and a 52 week high of $57.80.

Sirius XM (NASDAQ:SIRI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Sell-side analysts anticipate that Sirius XM will post 3.14 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.266 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.06 dividend on an annualized basis and a yield of 4.43%. Sirius XM’s dividend payout ratio (DPR) is presently 321.21%.

Insider Activity

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the transaction, the insider now directly owns 98,933 shares of the company’s stock, valued at $3,126,282.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SIRI. Van ECK Associates Corp bought a new position in shares of Sirius XM in the 1st quarter worth $2,036,000. Morningstar Investment Services LLC purchased a new stake in shares of Sirius XM during the fourth quarter valued at about $85,000. Assetmark Inc. lifted its position in shares of Sirius XM by 1,320.9% during the fourth quarter. Assetmark Inc. now owns 39,076 shares of the company’s stock valued at $214,000 after buying an additional 36,326 shares during the last quarter. Jump Financial LLC lifted its position in shares of Sirius XM by 25.2% during the fourth quarter. Jump Financial LLC now owns 42,385 shares of the company’s stock valued at $232,000 after buying an additional 8,541 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Sirius XM by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,957,960 shares of the company’s stock valued at $27,120,000 after buying an additional 218,211 shares during the last quarter. 10.69% of the stock is currently owned by institutional investors.

About Sirius XM

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.