Sirius XM (NASDAQ:SIRI) Raised to “Buy” at Guggenheim

Sirius XM (NASDAQ:SIRI) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $30.00 target price on the stock. Guggenheim’s price objective indicates a potential upside of 24.90% from the stock’s current price.

Other research analysts have also issued reports about the company. The Goldman Sachs Group cut their price target on Sirius XM from $32.50 to $26.00 and set a “neutral” rating for the company in a report on Tuesday. Evercore ISI upgraded Sirius XM from an “underperform” rating to an “in-line” rating and cut their price target for the stock from $42.50 to $32.50 in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on Sirius XM from $37.50 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Rosenblatt Securities boosted their price objective on Sirius XM from $3.40 to $28.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Barrington Research restated an “outperform” rating and set a $47.50 price objective on shares of Sirius XM in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Sirius XM has a consensus rating of “Hold” and a consensus price target of $36.91.

Sirius XM Stock Performance

Shares of SIRI stock opened at $24.02 on Wednesday. The stock’s 50 day simple moving average is $31.58 and its 200 day simple moving average is $32.13. Sirius XM has a twelve month low of $22.73 and a twelve month high of $57.80. The company has a market capitalization of $92.40 billion, a price-to-earnings ratio of 72.79, a PEG ratio of 0.90 and a beta of 1.08.

Sirius XM (NASDAQ:SIRI) last issued 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 during the quarter, compared to analyst estimates of $2.20 billion. On average, analysts forecast that Sirius XM will post 3.14 EPS for the current fiscal year.

Insider Transactions at Sirius XM

In other news, insider Scott Andrew Greenstein sold 144,723 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.60, for a total transaction of $4,573,246.80. Following the sale, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Several large investors have recently made changes to their positions in SIRI. Vanguard Group Inc. lifted its stake in shares of Sirius XM by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 54,682,133 shares of the company’s stock valued at $299,111,000 after acquiring an additional 363,551 shares during the period. Berkshire Hathaway Inc lifted its stake in shares of Sirius XM by 315.6% during the fourth quarter. Berkshire Hathaway Inc now owns 40,243,058 shares of the company’s stock valued at $220,130,000 after acquiring an additional 30,559,834 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 acquiring an additional 218,211 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Sirius XM during the second quarter valued at $12,858,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Sirius XM by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,333,792 shares of the company’s stock valued at $12,260,000 after acquiring an additional 353,860 shares during the period. Institutional investors own 10.69% of the company’s stock.

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.