Sirius XM (NASDAQ:SIRI) Given New $37.00 Price Target at Pivotal Research

Sirius XM (NASDAQ:SIRI) had its price target decreased by Pivotal Research from $40.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. Pivotal Research currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $47.50 price target on shares of Sirius XM in a research note on Monday, July 15th. Morgan Stanley reissued an “underweight” rating and issued a $23.00 target price on shares of Sirius XM in a research report on Tuesday, September 24th. Rosenblatt Securities restated a “neutral” rating and set a $28.00 price target on shares of Sirius XM in a research report on Tuesday, October 29th. Citigroup lifted their price objective on Sirius XM from $2.80 to $21.00 and gave the company a “sell” rating in a research note on Thursday, September 26th. Finally, Guggenheim raised Sirius XM from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Wednesday, September 18th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Sirius XM has a consensus rating of “Hold” and an average price target of $28.88.

Sirius XM Stock Performance

NASDAQ SIRI opened at $25.93 on Friday. The stock has a fifty day simple moving average of $26.42 and a 200-day simple moving average of $29.32. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.93. The stock has a market cap of $9.98 billion, a PE ratio of -4.09, a P/E/G ratio of 1.32 and a beta of 1.04. Sirius XM has a twelve month low of $22.18 and a twelve month high of $57.80.

Sirius XM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.27 per share. This is a boost from Sirius XM’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, November 5th. Sirius XM’s payout ratio is -16.72%.

Insider Activity at Sirius XM

In related news, insider Scott Andrew Greenstein sold 144,723 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 98,933 shares in the company, valued at $3,126,282.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott Andrew Greenstein sold 144,723 shares of Sirius XM stock in a transaction 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 sale, the insider now directly owns 98,933 shares in the company, valued at $3,126,282.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc acquired 869,800 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was bought at an average price of $23.55 per share, with a total value of $20,483,790.00. Following the purchase, the insider now directly owns 106,024,829 shares of the company’s stock, valued at $2,496,884,722.95. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 2,646,761 shares of company stock valued at $65,952,329 over the last quarter. 0.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of Sirius XM in the second quarter valued at approximately $12,858,000. Cubist Systematic Strategies LLC purchased a new position in Sirius XM during the 2nd quarter worth $5,192,000. SG Americas Securities LLC grew its position in Sirius XM by 516.5% during the 1st quarter. SG Americas Securities LLC now owns 1,601,048 shares of the company’s stock worth $6,212,000 after purchasing an additional 1,341,352 shares during the last quarter. Marshall Wace LLP acquired a new position in Sirius XM in the second quarter valued at $3,616,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sirius XM in the second quarter valued at about $3,238,000. Hedge funds and other institutional investors 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.