Sirius XM (NASDAQ:SIRI) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note released on Tuesday morning. The firm issued a hold rating on the stock.

A number of other research analysts have also recently commented on the stock. Rosenblatt Securities reduced their target price on shares of Sirius XM from $4.50 to $3.40 and set a neutral rating on the stock in a research report on Wednesday, May 1st. Benchmark reduced their target price 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. Seaport Res Ptn raised shares of Sirius XM from a neutral rating to a buy rating in a research report on Monday, April 29th. The Goldman Sachs Group raised shares of Sirius XM from a sell rating to a neutral rating and reduced their target price for the stock from $3.50 to $3.25 in a research report on Wednesday, May 1st. Finally, Pivotal Research raised shares of Sirius XM from a hold rating to a buy rating and reduced their target price for the stock from $5.05 to $4.90 in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $4.11.

Sirius XM Price Performance

Shares of NASDAQ SIRI opened at $3.10 on Tuesday. The company has a market cap of $11.92 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.92 and a beta of 1.08. Sirius XM has a 12 month low of $2.45 and a 12 month high of $7.95. The company has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $3.98.

Sirius XM (NASDAQ:SIRI) last released its earnings results on Tuesday, April 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Sirius XM had a net margin of 14.38% and a negative return on equity of 47.17%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts anticipate that Sirius XM will post 0.31 EPS for the current year.

Sirius XM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th were issued a dividend of $0.0266 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.11 annualized dividend and a yield of 3.43%. Sirius XM’s payout ratio is presently 33.33%.

Insiders Place Their Bets

In other Sirius XM news, Director Kristina Salen sold 12,518 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $2.60, for a total transaction of $32,546.80. Following the sale, the director now owns 169,309 shares in the company, valued at approximately $440,203.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Sirius XM

A number of large investors have recently made changes to their positions in SIRI. BKM Wealth Management LLC acquired a new position in Sirius XM in the fourth quarter worth approximately $27,000. First United Bank & Trust acquired a new position in Sirius XM in the fourth quarter worth approximately $37,000. TFO Wealth Partners LLC increased its holdings in Sirius XM by 140,560.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,033 shares of the company’s stock worth $38,000 after buying an additional 7,028 shares during the last quarter. American National Bank acquired a new position in Sirius XM in the fourth quarter worth approximately $41,000. Finally, V Square Quantitative Management LLC boosted its position in Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock worth $44,000 after purchasing an additional 3,194 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 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.