Sirius XM’s (SIRI) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Sirius XM (NASDAQ:SIRI) in a research report sent to investors on Tuesday morning, Benzinga reports. Benchmark currently has a $43.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Sirius XM from $37.50 to $30.00 and set a hold rating for the company in a report on Tuesday, August 6th. Citigroup upped their price objective on shares of Sirius XM from $2.80 to $21.00 and gave the stock a sell rating in a report on Thursday, September 26th. JPMorgan Chase & Co. started coverage on shares of Sirius XM in a report on Wednesday, October 9th. They set an underweight rating and a $20.00 price target for the company. The Goldman Sachs Group decreased their price target on shares of Sirius XM from $32.50 to $26.00 and set a neutral rating for the company in a report on Tuesday, September 17th. Finally, 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 report on Monday, June 24th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $31.25.

Sirius XM Trading Up 0.7 %

Shares of NASDAQ:SIRI opened at $27.08 on Tuesday. The stock has a market capitalization of $104.17 billion, a PE ratio of 82.06, a P/E/G ratio of 0.73 and a beta of 1.07. Sirius XM has a 1 year low of $22.18 and a 1 year high of $57.80. The firm has a fifty day moving average price of $27.52 and a 200 day moving average price of $29.99.

Sirius XM (NASDAQ:SIRI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Sirius XM had a net margin of 14.56% and a negative return on equity of 52.15%. On average, sell-side analysts forecast that Sirius XM will post 3.25 earnings per share for the current fiscal year.

Sirius XM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.266 dividend. This represents a $1.06 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Sirius XM’s previous quarterly dividend of $0.03. Sirius XM’s dividend payout ratio is 321.21%.

Insider Buying and Selling

In other Sirius XM news, major shareholder Berkshire Hathaway Inc purchased 1,259,259 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the transaction, the insider now directly owns 108,719,088 shares of the company’s stock, valued at approximately $2,712,541,245.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Berkshire Hathaway Inc acquired 1,259,259 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were purchased at an average cost of $24.95 per share, with a total value of $31,418,512.05. Following the completion of the purchase, the insider now owns 108,719,088 shares of the company’s stock, valued at $2,712,541,245.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Andrew Greenstein sold 144,723 shares of the company’s stock in a transaction dated 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 directly owns 98,933 shares in the company, valued at $3,126,282.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Large investors have recently added to or reduced their stakes in the company. Trium Capital LLP bought a new stake in Sirius XM during the third quarter worth about $50,000. V Square Quantitative Management LLC grew its stake in shares of Sirius XM by 66.6% during the fourth quarter. V Square Quantitative Management LLC now owns 7,990 shares of the company’s stock valued at $44,000 after purchasing an additional 3,194 shares during the last quarter. First PREMIER Bank bought a new stake in shares of Sirius XM during the first quarter valued at approximately $31,000. Keynote Financial Services LLC bought a new stake in shares of Sirius XM during the first quarter valued at approximately $39,000. Finally, Mather Group LLC. bought a new stake in shares of Sirius XM during the second quarter valued at approximately $28,000. 10.69% of the stock is owned by institutional investors.

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.