Sirius XM (NASDAQ:SIRI) Receives New Coverage from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research report sent to investors on Wednesday, MarketBeat reports. The firm issued an underweight rating and a $20.00 price objective on the stock.

SIRI has been the topic of a number of other research reports. Evercore ISI upgraded shares of Sirius XM from an underperform rating to an in-line rating and decreased their price target for the company from $42.50 to $32.50 in a research note on Monday, June 24th. Rosenblatt Securities upped their target price on Sirius XM from $3.40 to $28.00 and gave the company a neutral rating in a research report on Monday, September 16th. Benchmark dropped their price target on Sirius XM from $65.00 to $43.00 and set a buy rating for the company in a report on Tuesday. Citigroup upped their price objective on Sirius XM from $2.80 to $21.00 and gave the company a sell rating in a report on Thursday, September 26th. Finally, Guggenheim raised Sirius XM from a neutral rating to a buy rating and set a $30.00 target price for the company in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $31.25.

Sirius XM Stock Up 1.4 %

SIRI opened at $23.75 on Wednesday. Sirius XM has a 12-month low of $22.18 and a 12-month high of $57.80. The business has a 50 day moving average of $28.16 and a 200-day moving average of $30.46. The stock has a market cap of $91.36 billion, a price-to-earnings ratio of 71.97, a PEG ratio of 0.83 and a beta of 1.07.

Sirius XM (NASDAQ:SIRI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Sirius XM had a negative return on equity of 52.15% and a net margin of 14.56%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. As a group, analysts expect that Sirius XM will post 3.08 earnings per share for the current year.

Sirius XM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.266 dividend. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. This represents a $1.06 annualized dividend and a yield of 4.48%. The ex-dividend date was Friday, August 9th. Sirius XM’s dividend payout ratio (DPR) is currently 321.21%.

Insider Transactions at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.60, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Sirius XM

Several large investors have recently bought and sold shares of the business. Trium Capital LLP bought a new position in Sirius XM in the 3rd quarter valued at approximately $50,000. Handelsbanken Fonder AB increased its holdings in shares of Sirius XM by 23.9% during the third quarter. Handelsbanken Fonder AB now owns 49,453 shares of the company’s stock worth $1,170,000 after buying an additional 9,542 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Sirius XM by 169.0% in the 3rd quarter. SG Americas Securities LLC now owns 289,980 shares of the company’s stock valued at $6,858,000 after acquiring an additional 182,197 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Sirius XM during the 2nd quarter valued at $3,041,000. Finally, Point72 Asset Management L.P. bought a new stake in Sirius XM during the 2nd quarter worth $12,858,000. 10.69% of the stock is owned by institutional investors and hedge funds.

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.